Bitcoin has sold off strongly and it may not be over yet. The leading coin found its legs and support was established around 3503 on the Bitstamp Exchange.
But don't get short until the price can confirm further weakness. The market may rally here first and then meet resistance amidst the Super Pivot Stack that is now intact.
If price trades through the previous session's low then look to go short at 3492 and place a stop loss at 3722.
There are 2 profit targets you can aim for, 3125 first, then 2827 if the price weakens further.
But don't get short until the price can confirm further weakness. The market may rally here first and then meet resistance amidst the Super Pivot Stack that is now intact.
If price trades through the previous session's low then look to go short at 3492 and place a stop loss at 3722.
There are 2 profit targets you can aim for, 3125 first, then 2827 if the price weakens further.