Quinton84

Trend line respected

Kort
COINBASE:BTCUSD   Bitcoin
This macro trend line dates back to the middle of February and has acted has strong resistance 6 to 7 times. With that said, why not one more time? Based on current trading volume, I would expect this line to be tested again for the final time in 7-9 hours. I'm going to look at opening a low leverage trade with an entry point of 7300-7330 and hold that position for a 4-7 days. Along the way I will look at taking profits and re enter my short position to ride the wave down over another week but I will of course re evaluate the market along the way.
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