Short

Bitcoin short idea

Updated

Looks like a good risk/return here.

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Indicators turning down on 4h, 6h, and if we start to break down on the 1d. Could be a head and shoulders pattern also if it does not make new highs here.

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There is a 4h ascending triangle on Bitfinex: imgur.com/a/rh1XB I am moving my stop to a close above this triangle (around 1070) on *bitfinex. While it might seem weird to judge your stop based on another exchange, that is where the margin trading is, and there is potential for a big short squeeze if that level breaks. If that makes any sense.

Trade closed manually

Best to stay out of the waters.

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Just in time : )

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Text analysis in the chart, not a trade yet, just a possible scenario, if it looks like its playing out will take a trade:

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tradingview.com/v/nWlEaa3x/

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Good place to look to sell if we get there:

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Another I am looking to sell in that range is this trendline on the weekly with 3 touches: imgur.com/a/uHTGK

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Pretty much going exactly as planned so far, updated sell target to include weekly trendline, so a bit higher than the blue box (made it yellow now): tradingview.com/v/nZFovqYs/

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Working on the chart I will publish if I take this trade, really, this could even go as high as a spike to 1400 and still be bearish, why? It would be a flat a-b-c correction (either running or expanded), so could go as far as the 1.27 or 1.38 fib of the overall run for wave b of a-b-c. Again, this could just bubble and go nuts, but I don't think thats the case. But will not sell any coin until it looks like the time is right, when that happens will publish this as a new chart: tradingview.com/v/bgvQJhLu/ Still no trade.

ltc-joe

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