Shorting BTCUSD
Bitcoin / U.S. dollar BITSTAMP:BTCUSD
we can see from the day chart that 44,438 acting as the resistance level has been a major obstacle for BTCUSD to breaks above. In fact, each month, it attempted at least once to breaks above but all failed except the recent one in late March, giving much hope to the BTCUSD bulls camps.
However, it was short lived as it quickly tumbled down with a nice confirmation bearish bar on 6th April, breaking below the support turn resistance level at 44, 438 once more.
As such, I am taking a small speculative short position to take advantage , with a tight SL to protect my position.
