Rising wedge broke down, MACD turning bearish, alma (21, 55) bearish cross, rejection of 50% retracement of the dump, potentially bubble bursting.
Targeting 1600-1700 area: major trendline from last sub 900 low, 377 ma, 61.8% retracement of the whole bull run, 1.272 extension of the correction and broken wedge target.
Stop-loss 2265
**I was cleaning the chart while the dump started, the entry for this short was the wedge breakdown at ~2230. I would enter over 2200**
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2220-2250 is the place to enter this short
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This in coinbase targeting 1620-1720.
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I got trapped in that fake breakdown. Got stopped at 1.55% loss. Looking at that wedge now for a new breakdown.
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Could happen anytime soon. Be ready
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I still think there is a bear case.
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Closer look. 4h closing under 2500 or breaking 2460 would trigger my entry.
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Screaming top imo. RSI, MACD and volume divergences, those wicks in the ath candles... ready to short down to 1700 area for starters
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homeloanking
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What's your view on alt coin dominance increasing with market cap up at 88billion. Do you think we are in the next cycle?
zeeshaan001
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Excellent Man. i hv just checked your charting and good one. I am also thinking that price is coming down to 1800 usd level .. range 1600 to 1800 usd... lets see my timeline for same is next week ...
CoinDreamer
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Too many crypto newcomers...and all buying btc, eth, etc etc..:P and amd vga's for mining. As I said crazy days..
I've lost in few shorts against btc, i think we should think that there is shortage of coins, also new people coming to buy, so may be this is not going down too much..
@etiennez0r, I really think the show is over. Everyone and his grandma is buying bitcoin. Every family and friend i have that know im into crypto its been calling me to explain them how to buy.
itse selling time. smart money is totally out imo.
ltc-joe
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@bagofXMR, IMO btc just getting started...look at the weekly candle forming after that big wick. Gluck.