Forex Signals

Bitcoin breaking the 6,800 Level

The setup

Bitcoin was retracing the two large downward candles made between the past Sunday and Monday. We see also that the descending red trendline, which traces the tops of the underlying downward trend acts as resistance to stop further advances of BTC. The price approached the upper edge of the descending channel and bounced back from the $7,000 key level. Since then, it is behaving weakly. Now the breakout below the 6,800 level shows the sellers are in control.

Key Trading levels


  • 1 BTC = $100 risk
  • 0.1 BTC = $10 risk
  • 0.01 BTC = $1 risk

The reward is 2x the risk.




By Fran S.

I love math, data science, and, also, financial markets. I love to write about system analysis, money management, risk, and math for traders. I hold a degree in Telecommunications Engineering by Univ. Autónoma de Madrid, and a Master in Business Administration and Marketing by Univ. de A Coruña.

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