Bitcoin Still Aiming At $7,700 | Hit Or Bounce To $9.2K?

Oct 6, 2019

Bitcoin (BTCUSD) is still aiming lower. We have a short since $8200 and we think our remaining two targets will hit...

Bitcoin is trading below EMA300 on the daily time frame, so another leg down might happen before testing resistance back up... Here is the chart:

Below you can find the full details of our trade, remember that this is HIGH-RISK and not financial advice.

Leveraged trades are intended for advanced/experienced traders only. If you are a beginner, stick to the altcoins on Binance, Bittrex, Huobi, Poloniex, HitBTC, etc.

Thanks a lot for your support.

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Trade: SHORT XBTUSD (Bitcoin)

Leverage: 6X

Buy-in: $8,050 - $8,150

Targets:

(1) $7,900 |Hit (+14.58%)
(2) $7,800
(3) $7,700

Stop-loss: Close 4h candle above $8,195.

Liq. price: $9,652
(Buy-in calculated at $8,092)

Potential profits: 30.5%

Capital allocation: 6%.
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Use the comments section below for questions and to share your charts.

Namaste.

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Previous analysis | Bitcoin's Next Move Short-Term ($7,700 or $9,200?)