BTCUSD Possible Incoming Reversal

7 Ağu 2019

Fundamentally speaking in the long run, BTC like gold and other assets treated as risk-haven now will continue to increase in value if market continues to be risk-off esp with trade "talks" going nowhere and "rumored" recession coming within 2-3 years. But technical-wise, there's highly probable reversal soon at least in the short-run (within this month only) like what I'm seeing in metals esp if DXY forces its way up to 100 and equities start recovering from last Monday's correction.

Weekly:


Gold:


Silver:


DXY:



Confidence: B (bec this is not aligned with fundamentals and possibility of getting whipsawed, better to wait for the next "tail" to appear before shorting, or set a more conservative sell stop order below 12000 after bearish confirmation candles appear)

16 Ağu 2019

İşlem elle kapatılmış

Will close this for now to lock in current gains, might short again if I get a better entry this week and if DXY remains bearish in the short-run at least.