Short

BTCUSD: Bear market still ongoing...

Updated

The 2 week timeframe has flashed a sell signal in #BTCUSD, the market might trend down until April 2019. I'd stay on the sidelines and wait to buy the bottom by then, it matches the timing of fundamental events yet to pan out, which makes me think this is IT. The market needed a catalyst to move, and we have the Bitcoin ABC mess right now, bullish catalysts are not enough, and not yet here, to reverse this decline...and we still have the supply from Gox creditors that will eventually hit the market at exchanges, which puts a lid on investors' confidence.
Stay safe, stay out...trade at your own risk.

Cheers,

Ivan Labrie.

Comment

Price plummeting since this signal kicked off when breaking down. There's still way more downside to come, for way longer. I'll keep an eye on the chart and targets.

Trade closed: target reached

See up to date publication in related ideas. Target #1 here was hit.

Comment

Time for this downtrend expires during the 2 week period starting on the 15th of April...this might signal a strong rally signal back to 6500 ish.

IvanLabrie

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