Bitcoin short term strategy ramble 2
On the one day bitcoin chart: Well the price bounced from the trendline, didn’t go under it as I expected in my previous rumbling about the bitcoin. I still think it’s a short term trade and price would go down either by hitting upper side of the triangle or it will hit the Kijun-sen and will go down again. I believe the price will hit Kijun-sen around 8100, so we have to watch this mark. If it meets resistance there, I can only guess it will bounce back to the lower side of the triangle. Only some very positive news can take the price really up and soon. The worst case I see right now, the price will go under lower side of the triangle and it will not find enough support until it will hit the range between 4700 and 5000. In that case many people will start to buy cheap bitcoin.