BTC first shake out complete
Updated
If Bitcoin gives you a lot of money in a few days, you should be thankful and take it, because if you don´t, Bitcoin will take your money instead.
Every Bitcoin rise repeats the same pattern over and over which i tried to show in my last chart.
But there was a mistake in my old chart.
Bitcoin is in a parabolic move, so it does not make any sense to use a pitchfork in a linear chart.
I corrected the pattern and now we have a logaritmic chart which covers the huge gains we may see in the future.
Today we got a good opportunity too add some longs, but beware! Bitcoin can be a beast and return to the same spot the rally started few weeks ago. Expect dumps until 5500 CNY. Don´t risk beeing liquidated or panic selling.
i do not recommend overleveraged longs for the next few days.
Every Bitcoin rise repeats the same pattern over and over which i tried to show in my last chart.
But there was a mistake in my old chart.
Bitcoin is in a parabolic move, so it does not make any sense to use a pitchfork in a linear chart.
I corrected the pattern and now we have a logaritmic chart which covers the huge gains we may see in the future.
Today we got a good opportunity too add some longs, but beware! Bitcoin can be a beast and return to the same spot the rally started few weeks ago. Expect dumps until 5500 CNY. Don´t risk beeing liquidated or panic selling.
i do not recommend overleveraged longs for the next few days.
Note
that was quick! i hope u got some cheap coinsNote
we are retracing as expected and will probably advance to the red line of the pitchfork with spikes up to 7400 CNY. Expect volatile sideways movement between 6400-7400 CNY for the next days. Also expect another dump (yellow line) before chinese new year until further bulltrend continuation.This is a good area to play pingpong with small non leveraged trades (long&short)
long 6200-6400 - short 7400-7100
high risk if you are not able to control your emotions.
5 trades, 5 bounces, close 200% volume
portfolio usage after each bounce 12,5%, 15%, 17,5%, 20%, 25%
please note each bounce will decrease volatility.
timeframe 1-2 weeks
Note
too much manipulation and fudding. Lets wait for investigation of chinese exchanges on 17. January, before we continue. Intraday analysis is currently useless.Note
Note
If BTC can not pass the downtrend channel in the next 12-24 hours, we could see another leg down. prepare for this.Note
next target 6800-7000 CNY 2x lev margin trade 20% capital allocNote
looks good, 400 CNY to hit my first targetNote
boring sideways, no dump, so buyNote
first target hit, adjusted second target to 7400 CNY which is 61.8 FIB retracementNote
4h Chart. its worth a try. target = both FIB Levels switch long after
Trade closed manually
BTC was to strong. 7400 soon.The Chart is complete for now, i will post a new one in the future
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