OraclePips

Trap Buying BTCUSD: H4 SHOWING A STRONG SELLING PRESSURE

Short
BITSTAMP:BTCUSD   Bitcoin
Hello there, I think buying the BTCUSD is very questionable because there's a strong selling pressure showing in the H4 timeframe. The H1 timeframe is bullish though, wait to see the confirmation to make any trade decision.

Technical Analysis: the price is currently respecting a strong resistance level in the H4 with an inside bar candlestick that has formed at the resistance level. Until this level is broken to the upside, we remain bearish. Don't buy If it does not break the resistance to the upside, then look for a sell signal. Also, buying this pair could not make you enough money as there are two resistance levels above the price.


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