Ruh Oh Bitcoin! Hold onto your corns!
Updated
I am running for the hills with my tail between my legs!
The trend (the blue dotted line) is bearish, with lower highs and lower lows. We are in a falling wedge (the purple trend lines) which will help to move us down as we consolidate more. I'm not sure if these harmonics will play out, but they seem valid to me. I think we are about to see a significant move to the downside.
The D position on this bat-looking (?) harmonic is my near term target.
Owhoooo!
The trend (the blue dotted line) is bearish, with lower highs and lower lows. We are in a falling wedge (the purple trend lines) which will help to move us down as we consolidate more. I'm not sure if these harmonics will play out, but they seem valid to me. I think we are about to see a significant move to the downside.
The D position on this bat-looking (?) harmonic is my near term target.
Owhoooo!
Note
So far it's playing out. I think the 200 EMA is about to push Bitcoin down towards the D point on the harmonic. I may take 50% profit out of my short position on the next leg down.Note
Owhoooo!Note
I've moved my stop up to just above $32,000. I think we are going down to at least $30,000. Note
I moved the stop up again. I'm looking to take profits soon I think. On this 15min chart I am looking for a break of this falling wedge, and have targets to the upside and the downside. Owhoooo!
Note
30min chart, not 15min!Note
Stop loss hit! That was a good trade for about a 5% gain. Looking for another edge.
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