Called 3000 when Bitcoin was 6600. This is temporary bottom.
Updated
Looking at the daily and 4 hour charts, it honestly looks like a bounce is overdue.
Seller exhaustion, accumulation on whale exchanges such as Bitstamp and Bitfinex. I have been watching a lot of Bitfinex and Bitstamp. Coinbase is meh since lots of retail trade there.
We are breaking through resistances much easier in the lower timeframes. If you still short this, it will be like shorting 6k before the rally to 8k.
My first target is 3800, and second will be 4400. I highly doubt we will get past 4400. Don't fall for the 6k retest charts. It will not happen. Even if it does, there is no way we break past 6k unless a long time has passed. We need the bagholders to all sell first or forget about bitcoin. I expect a 6k retest in late 2019 or 2020.
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Seller exhaustion, accumulation on whale exchanges such as Bitstamp and Bitfinex. I have been watching a lot of Bitfinex and Bitstamp. Coinbase is meh since lots of retail trade there.
We are breaking through resistances much easier in the lower timeframes. If you still short this, it will be like shorting 6k before the rally to 8k.
My first target is 3800, and second will be 4400. I highly doubt we will get past 4400. Don't fall for the 6k retest charts. It will not happen. Even if it does, there is no way we break past 6k unless a long time has passed. We need the bagholders to all sell first or forget about bitcoin. I expect a 6k retest in late 2019 or 2020.
Thanks for viewing! Check out the calls mentioned above in the related ideas section
Note
Sorry to interrupt the party after a 12% rally, but short term it looks like a correction down.
You can sell here and buy lower. I am confident in that.
Trade closed: target reached
3800 area basically hit. I closed at 3500 ish, but this idea was a success.
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