Short

Bitcoin correction to 8k seems likely

Updated

Pretty self explanatory. The market did not spend much time between 8-12k and will want to explore that area.

Note

Hasn't hit my target area yet, but the volume the last day has been amazing on every exchange. I also hear rumors that big OTC players are seeing huge volume as well. I'm interested to see if this bounce has legs. If so, there is an excellent chance we will not see 8k.

Note

Again massive volume, but I'm a firm believer the more times s/r is tested the weaker it gets - not the stronger. Next week or two is crucial, really need a big bounce or 8k becomes increasingly likely.

Trade closed: target reached

Overnight there was a tag of 7960. This idea is complete.

Bitcoin will prob retest that level and certainly could go lower, but shorting in this area is very dangerous. If by chance it reaches 5k, go all in with your life savings.

ITradeEverything

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