BITFINEX:BTCUSD   Биткоин
BTC is showing a bearish posture on all timeframes right now (weekly looking neutral to leaning bearish). The 1 hr chart has a h&s that has broken to the downside, 4 hr chart shows price under the 200ma, and the daily is in a bearish TD countdown approaching the 200ma. In my opinion, this is a no trade zone on the daily with a possible short scalp on lower timeframes. Typically we would be looking for price to bounce off the 200ma on the daily chart, however, there is support in the 9k area and it will make timing the dip difficult. Instead, I would wait for confirmation to enter your bullish trades, ideally with the daily candles closing above the 50ma. Either way, I think we will see a bounce on the daily back up to the 10k area capped by the 50ma and will need to reevaluate a short/long position at that point depending on rejection or a close over the daily 50ma.
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