Nothing to do but short...and maybe reassess when to go long again based on how price reacts at the blue fib line....not a bad idea to set a limit buy way below that, while keeping an eye on how far we dip below the psychological support of 8,000. THis could very well be the results of whales stop loss hunting. So be on the ookout for any sudden boosts of bull...
Now that we've closed 2 candles below the 50 MA it's looking like probability favors the short game over the long game. Usually we wait for 3 or 5 closes below the 50MA to confirm we are back in a sellers market first so this current 4hr candle is very important....if it closes below odds are good we have more downside to follow. A short at that time would not be...
probably good entry point for long/middle term believe this project can make over 200% in mid term , look on it ^^ but also can come another price drop be carfull
Updated the flagg. Keep in mind that the fib (fat white line) is strong.
in the meantime I started the STOP SELL order for BTC the potential traffic is not big about 9% but the wave is quite clear after reaching the target zone I will look for the input signal in BUY
Alright guys I've been looking at twitter for some time now, and to be totally honest I believe that we may have a short on our hands right now! We could potentially see prices reach the downside target of 24.00 . Before you trade this, you might want to consider a few variables, prices could actually break up to the upside as a result penetrating our current...
Just wanted to show you all how the purple ascending wedge once it was broken out of dipped the exact height and angle of the wedge...so a very reliable pattern. Also wanted to note that we now have 2 4 hour candles that have closed below this head and shoulder neckline with the bulls desperately trying to lift it back up above the neckline...so far on the 1 day...
Welcome traders! As you can see, Bitcoin has gone from Bullish to Bearish almost over night, and just like that the market sentiment switches! It's a testament to how quickly these markets can change in these volatile times. Just how low can we go? I have switched to linear charts as this gives us a more accurate channel to draw. It is different from my...
BTCUSD shorts watch out, for every seller there is a buyer. Negative price action is being massively soaked up with positive MACD divergence.
This is why I'm short till further notice in the mid term.
Looks like we failed to break resistance and retest 8k5 and now it looks like support is failing rapidly at 8k. If we go test 7k5 and that fails, then I'd say it might be a one way trip to test $6500.
Hello everyone, Looking at the daily chart you can find that the price has almost completed the full pattern of the elliot wave theory. Following completion of the corrective waves ABC, the theory tells us that there will be continuation of the downside trend. The theory is false if the price surpass the first corrective wave "A".
If our major support @$8k5 BITMEX:XBTM18 fails we could be on our way back to early 2017 levels.
So yeah.. This breakout looks like it will be denied. I'm still ready for the possibility, but this scenario, if resistance is too strong at $9,450... Extreme target of 6k5. Don't get shaken out if you're crazy enough to go for it...
1 hr head and shoulders, 4 hr bear flag, now lower highs
Bring it btc.. I'm back and I learned my lesson last time.