BTGUSD Update
This has been a good reliable short once the dynamic support
gave way, as per comment from Monday. Now it's back in the
buy zone so shorts get closed out and reversed long with stops
under 318. Short term target is the falling dynamic around
350 where some day traders will reverse once more for
another short with stops above the dynamic. Pin bars of
rejection off this line shows it's still strong. Price will then
need to break above this line and hold on any retest to trigger
the next long from here.
On the downside major support lies close by at 319.
Any failure to hold here over the coming days would be
extremely bearish for BTG signalling another good shorting
opportunity back to 260 at least, and potentially all the
way back to 156.
This has been a good reliable short once the dynamic support
gave way, as per comment from Monday. Now it's back in the
buy zone so shorts get closed out and reversed long with stops
under 318. Short term target is the falling dynamic around
350 where some day traders will reverse once more for
another short with stops above the dynamic. Pin bars of
rejection off this line shows it's still strong. Price will then
need to break above this line and hold on any retest to trigger
the next long from here.
On the downside major support lies close by at 319.
Any failure to hold here over the coming days would be
extremely bearish for BTG signalling another good shorting
opportunity back to 260 at least, and potentially all the
way back to 156.