Retracement is coming
Bitcoin / Dollar BITFINEX:BTCUSD
Bitcoin is in a little descending channel here on the 30mins. Still in the bigger acending channel though from the end of May. Expecting a drop here to around $7460, before upwards movement for the bulls. if $7440 breaks the bears have gained control. A big catalyst for the movment of BTC will be th 6th of June, as so many people are waiting for a drive upwards this day, if it doesn’t come or it bearish , could be in for a bad month.
So i have a buy set for 7460, with stop losses set for if the bears take control.
Long term bullish .
Short term bearish