BTC looking like the streets of Sydney sans Mardi Gra
Updated
Good Morning,
My last analysis of Bitcoin still stands and while the Mt Gox coins are still being sold off and the FUD of it lingers we have a real chance of dropping to this previously unimaginable levels. Every time we have a sell of we retrace into either another bearflag or rising wedge and breakdown, the big the flag/wedge the further we drop. Trading ideas with this one would be short term longs while wedges build but caution must be advised but until these Mt Gox coins are sold , I guess the real game here is Shorts. I would stay far away from alts completely, as they will just keep crashing and panic selling will occur. If you dont short, then and fiat is not your play, then best idea would be USDTether or you could short on bitmex 1x which equates to tether without actually holding any.
Take a look at the linked charts to see how things have progressed and how and why I called it.
Good luck and be careful, happy hunting.
G'day Mate,
Thanks for dropping by, hopefully you garner something valuable from my post, be it educational or an idea towards a trade of your own. Please share, like and comment and engage with me, I am here to help. Join me on Bitmex, 10% off fees for 6 months. Feel free to message me on Tradeview , Twitter on even in the Bitmex Troll box and I will be happy to help. With a little guiding and a quality trade plan, Bitmex is the best place to grow your Bitcoin but please do note that Trading leverage just as it is with CFDs or shares has an increased risk, unlike trading on exchanges like Binance or Coinbase, in which if you make a bad trade, with time you can usually break even.
My last analysis of Bitcoin still stands and while the Mt Gox coins are still being sold off and the FUD of it lingers we have a real chance of dropping to this previously unimaginable levels. Every time we have a sell of we retrace into either another bearflag or rising wedge and breakdown, the big the flag/wedge the further we drop. Trading ideas with this one would be short term longs while wedges build but caution must be advised but until these Mt Gox coins are sold , I guess the real game here is Shorts. I would stay far away from alts completely, as they will just keep crashing and panic selling will occur. If you dont short, then and fiat is not your play, then best idea would be USDTether or you could short on bitmex 1x which equates to tether without actually holding any.
Take a look at the linked charts to see how things have progressed and how and why I called it.
Good luck and be careful, happy hunting.
G'day Mate,
Thanks for dropping by, hopefully you garner something valuable from my post, be it educational or an idea towards a trade of your own. Please share, like and comment and engage with me, I am here to help. Join me on Bitmex, 10% off fees for 6 months. Feel free to message me on Tradeview , Twitter on even in the Bitmex Troll box and I will be happy to help. With a little guiding and a quality trade plan, Bitmex is the best place to grow your Bitcoin but please do note that Trading leverage just as it is with CFDs or shares has an increased risk, unlike trading on exchanges like Binance or Coinbase, in which if you make a bad trade, with time you can usually break even.
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