Short

Updated

Bitcoin Headed towards 8300 before the mighty pump

Hi all,
I am back with the new post. I noticed that bitcoin headed towards 8300 before the next mighty pump.

You can see in the main chart that there was a perfect symmetry that needed a correction. Also in the below weekly chart you can notice that bearish candles are going to have more magnitude and can follow one more red candle bigger than previous ones:

As mentioned in the main chart, my trade is short and target is 8300-8500. I am going to buy Bitcoin at that price and I may wait patiently until then without being tempted to ride short waves that can yield in the bad results.

If this chart helped you kindly hit like and follow me.

Peace,
Budha

Note

I forgot to mention that there is no need to panic if Bitcoin may pump a little like up to 9900s as it could or couldn't depending on some factors, but clearly trend is down so even if it ride up it will eventually fall down....So better to wait with patience to buy at the low price or we can also buy later at high price when we get the sure confirmation of the trend. Remember it is always okay to buy at higher price when there is a clear confirmation than to buy at a lower price with "FOMO" where we are just assuming the trend. So I am going to wait on this dip with patience even if it does take some time.

Note

As mentioned in the above update we hit 9900s and here is the new update:

On 30minutes:

We had a pump which is of its magnitude at 30minutes time frame level. We can notice it reached its peak on smaller scale.
On weekly:

As you can notice, last candle is still red and this pump is not a good sign as mid of the week is to start which can result in making the candle body bigger.

On daily:

Above 30mins and weekly charts are not giving clear sign of bearish trend however daily is the main trend setter and we can notice that there is a clear bearish candles that can result in good dump following today's day candle.

Note

I am still with the opinion with the above update but also providing these second thoughts :

Interestingly weekly candle turned green which should turn red by end of next day in order to make my above update successful

Day candle should fail here then only my above update works other wise one more green candle next day can invalidate the symmetry as it already dipped to 9600 multiple times and can lead to 13ks in matter of a month.

So my latest update is, I am still in favor of 8300s and believing it will start dipping from tomorrow, however as a human I could also fail on my estimation and if it didn't meet above 2 mentioned conditions that could lead to a mini Bull rally upto 13ks.

Suggestion is still short with my caution. Have peace and Prosperity,
Budha.

Note

As updated above our conditions met :

On weekly,

the very next candle red magnitude has increased.
On daily:

Red candle followed by that green candle I was talking about in the above update which lead the trend down.

As a result we get 9300s and tilting more down
tradingview.com/x/mBkgasE2/.

Suggestion is still short.

Note

Hey all, good day and hope you are doing good. I come up with new update.

Weekly:

You can see on weekly,candle is still red that still gives a bearish signal however candle closing green could result a very decent bull run.
Daily:

This last daily candle is green but luckily for the bears this is looking week and hence trend should be decided on the next candle. So if the next candle is smaller than this in whatever color indicates bearish signal, however a green candle closing above this candle could lead to a Bull rally.
30 mins:

You can see on those wicks, fighting hard by the bull and bears to gain control over the trend, So next who ever gets a bigger wick could win the battle.

Suggestion: As you can see I started this post suggesting short, I am still favoring the short but note that you should continue on short if the above conditions met else should come out immediately. In Simple words stay on short if we have any dip by Tuesday i.e 25/02/20/ if there is no dip by then get out of your short. I am going on a long trip thus I may or may not be available to update my chart so take care of this caution.

Peace,
Budha.

Note

Hey all,
As updated above we hit a good dip till 9310
tradingview.com/x/BOYR4CuY/,
which is a good win for those who got patience.

Here is my new update :

Weekly:

Weekly is bearish and we can expect more dip.

Daily part is not looking very bearish as it could have a tiny up movement here for next dip. There is also a chance today candle may burst and have more dip or could calm down here and have some tiny follow up green candle before another red candle/s.

Note: I am going to close this idea and start a new post as I am not sure if my updates are being read or not. If my charts help you, hit like and follow me.

Best regards and peace,
Budha

Note

We hit 9090s a good win for this trade and we can wait more:

Since trend got into our direction we shall focus on daily untill next major change:

2 scenerios here : Today it can dip a lot else a tiny bounce here to fail more later. However 2 daily green candle shouldn't be allowed so in case you see them be vary.

Peace,
Budha

Note

We hit 8900s and fast pump to cover it which means there are some bulls fighting hard but we can see they are week which can lead the price to 8xxx soon so suggesting you not get tempted(fomo) to long yet.

Peace,
Budha

Trade closed: target reached

Hi all Today is a very nice day for those who followed this idea.

We hit 8620s and its very close to 8300s as we were expecting and had 1000$ dip since the chart posted. From here I am expecting some tiny sideways action followed by tiny dips and pumps. I will soon come with new trade setup and request you to follow me to catch it.

Peace,
Budha.

Note

Note : Since I closed it it doesn;t mean i am against more dip, I am still focusing on 8300s and since it hit 8620s its not good to make short trade here but waiting is very okay. I will need some time like 2-3days to work out on new trade setup thus we can ride it with patience. Also I noticed that many people not reading the updates and just seeing the chart so I have to plan on how to publish my future charts as I am not ready of to provided the updates or make new chart for every update. Any feedback/suggestion on this is most welcome.

Best regards and Peace,
Budha

Note

One Last update on this chart:
We hit 8520s already:

. From here price can go up or down and it will be too early to conclude Larger picture from here so for those who have been short since beginning from this chart can hold their position with some stop loss of their satisfaction while I am not suggesting others to short now as it wont be fruitful to trade tiny actions. I will analyze the longer picture and come here soon. Kindly hit like and follow me if this helps.

Peace,
Budha

Note

Published new chart here

Bitcoin Rising towards 9400 but failing so can result in 7500s

Expecting some tiny up move from here which can set the longer trend. Failing to have pump could result in few more weeks of bear trend.

UnknownUnicorn6209745

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