Bitcoin 2018/06

By nighty2k7

Updated

Bitcoin 2018/06
for performance tracking

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Last update from 2018/05 on track

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decision time for short term

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Triangle decides direction: Uptrend channel or downtrend channel

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PND scam active

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Still on track, sell zones 7765, 7830, 7925

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Long 7548+7557
StopLoss 7502

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StopLoss now 7543. Has to pass 5600 as resistance

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SL now below support 7583 for breakeven

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Targets as in chart: sell zones 7840, 7925

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Raised SL to 7612 for profit
Bitcoin running to end of big triangle. Decisive move will come next 24-48 hours

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Maxiumum targets for retrace:

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One more leg down, wave V missing. Wave I=V: 6430 target, then abc to 6970

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Target 6430-6450

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Careful here, short squeeze could happen: shorts rising strong, price dropping slow, that means people adjustiNG lower very tightly. Can easily squeeze upwards:

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See above idea shows a channel building

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With fibs and shorts shown, retrace to 0.382 expected, 0.5 might happen, 0.618 should be max

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no strong retrace, as above wave 5 missing

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Target 6430-6450 as above reached

Trade closed: target reached

Closed shorts 6470, opened short 6558
imgur.com/a/8CZ8D9I

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Long time since last update:
Bounce around 5655-5688, fib convergence, falling wedge apex, support zone 5400-5600 below, potential start of wave IV in bigger picture

nighty2k7

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