Short

Another big Crash for Bitcoin. target 7K/8K or lower, Big H&S

Updated

For the ones who have been followoing me, know i was talking about 2 H&S patterns, the one that was already completed around 12,500. But i saw another one forming, a much bigger one. The right shoulder seems to have been completed already, the market is much weaker than i though. I thought 15K/16? would be reached in 2/3 days. It only had positive momentem for 1 day.

If it drops below the 11K again, i expect very low prices short term! Nothing will surprise me, from 3K up to 8K. With the future markets in play, expect much more scenarios that are least expected.

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These 2 options are possible for the next 2 days. A rise above 17.500 means the bearish sentiment will be over!

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The red options is what has happened so far, my first short positions are already in, building up untill 16.000. So far my previous analyses, where i talked about a rise the coming 2 days got extended a little bit, let see if the makret has forgotten all the uncertainties of last week.

Note

I am fully loaded, 3 times my normal amount with most added at 15.650 and 15.850. I have my stop at 16.650 and 17.250. So far it has done almost what i predicted 4 days ago, nothing has changed, funadamentally it has even worse than a week ago, so no reason to change the strategy now!

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One last small wave up to 16.200 is still possible, IF it happens, i will add even more around that point.

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Lets see if 15.600 will hold

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This bullish flag suggests 16.500/17.000, but i don't think it has the sthrenght and conviction it had a few weeks ago. If it won't get above 16K, that would be a very weak sign, and 80% chance we will see a fast drop back to the 14K levels.

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I have not been following it much during Christmas, but i think BTC price on Bitstamp is lower than at Bitfinex, for the first time since the big drop last week. I cant really put a theory on it right now

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It tried to break out the red resistance area, but it got thrown bak in again! Normally that's a weak signal. But if it stays above 15.700/15.600 the coming hours, than expect a new (and probably succesful) attempt!I will probably adjust my stops than

botje11

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