MatTheCat

BTC Short Finally Sets Up.

Short
BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Applying all my usual box of tricks....

....if this isn't a Short, then I don't know what is.
Trade active: Bombs Away!

Comments

6800retest lets go
Reply
adrenaline_beast LiquidationFund
@LiquidationFund, 6800 was tapped multiple times and didn't broke. Therefore I don't see 6800 incoming. Price has already begun to make LH and LL. Clear weakness + Inverse wedge on the weekly
Reply
I have a question, u believe that bitcoin will down to 4000 or 5000 nearly?
Reply
MatTheCat NoushafarinMoradi
@NoushafarinMoradi, I believe almost certainly, that Bitcoin will get down to the mid $4000s and probably lower than this, although ~$4500 would/should be the 'safe' target for a short trade.
Reply
adrenaline_beast NoushafarinMoradi
@NoushafarinMoradi, It will go down for sure, because it did hold in the consolidation zone (6500 - 6800) & Strong Resistance @ 7000 which didn't break above.
Clear downtrend began day before yesterday.

Thinking of the other side, if it breaks clean above 7000, then it's a bull trap further towards 8K.
For now its a clear bearish scenario
Reply
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