Bitcoin (BTC) Called last four moves. Stop hunt likely.
Updated
My public/private calls may be found in the related ideas section. You may message me to hear my thoughts and I will share my charts with you.
Bitcoin has been rejected from the 7000 level after demand has shown to be drying up. However, there has been a bounce from the current level of 6800 where many traders had the buy limits along with a big whale.
Currently we have had a small bounce that will probably come down again to retest 6800. I believe if we break 6800 yet hold the price in what appears to be a bart pattern along with massive selling yet no price movement, that will be a bullish signal to long again. I have traded these many times and most of them were followed by a massive move up.
Therefore:
Buy in if you notice that occurring. If that does not occur during drop just hold shorts as we will be going lower.
Sell:
7200+ (Once we break 7200 there will be massive buying which allows big money to go short.)
Bitmain seems to believe we will not hold 6000 aswell as they are doing an IPO to get cash in order to buy smaller mining companies when they operate at more of an loss.
Thanks for viewing! I am mostly bearish and this is just a possible play. It is entirely possible we retest the 6600 levels.
My calls can be found in the related ideas section if you wish to see my track record.
m59 also made an awesome script that tracks Bitmex funding. Please support him. It has proven to be very useful and shows this is likely not the top.
Bitcoin has been rejected from the 7000 level after demand has shown to be drying up. However, there has been a bounce from the current level of 6800 where many traders had the buy limits along with a big whale.
Currently we have had a small bounce that will probably come down again to retest 6800. I believe if we break 6800 yet hold the price in what appears to be a bart pattern along with massive selling yet no price movement, that will be a bullish signal to long again. I have traded these many times and most of them were followed by a massive move up.
Therefore:
Buy in if you notice that occurring. If that does not occur during drop just hold shorts as we will be going lower.
Sell:
7200+ (Once we break 7200 there will be massive buying which allows big money to go short.)
Bitmain seems to believe we will not hold 6000 aswell as they are doing an IPO to get cash in order to buy smaller mining companies when they operate at more of an loss.
Thanks for viewing! I am mostly bearish and this is just a possible play. It is entirely possible we retest the 6600 levels.
My calls can be found in the related ideas section if you wish to see my track record.
m59 also made an awesome script that tracks Bitmex funding. Please support him. It has proven to be very useful and shows this is likely not the top.
Note
Also when we reshort 7k levels if this idea happens, make sure liquidation price is above 8k.Note
You can use more margin when price starts reversing into a downtrend.Note
This is 100% as predicted so far.Note
I believe the zone for long is 6800-6740. I expect a huge dump during that time as many bids waiting to buy there. That combined with massive selling yet relatively small price movement will mostly confirm my theory.Note
Pump happened after we hit 6800Note
Note
Hold your longs for now.Note
We have had bounce off cloud and possible TD recross that will be pretty bullish.
I have took some profits now and am looking to mainly short at 7000+. I believe top will be shown with Mex funding indicator.
I expect a retest of 6900 and below.
Note
Retest of 6900 happened.
Somebody on Mex shorting into buys right now.
Note
Right now I believe we will get 7090 but scale into your shorts right now.This could be the top. Make sure you use proper position sizing so you can react to unexpected moves.
Note
New chart will be updated soon
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