I think we are going to drop towards the 9800. With this move, the right shoulder of the big inverse H&S that many are talking about, would become much stronger and have a better basis to go forward. Now, to be clear, i really don't expect we will even get that far, getting above the 13K, but i am not going to fight it of course. I shorted BTC at 10770 a half hour ago (see my previous chart).
I will post another chart in an update, where you can see the trigger for me to have shorted it now. Look at the orange area, it's not exactly the same as the previous 2, but it did drop out that channel and has been trying to get in again. If i am right, we could drop towards the 10200/10400 but probably even towards 9800, to retest the previous resistance as a big support now, it would really fit this picture, of the blue circle, making another high low at the 9800
I will post another chart in an update, where you can see the trigger for me to have shorted it now. Look at the orange area, it's not exactly the same as the previous 2, but it did drop out that channel and has been trying to get in again. If i am right, we could drop towards the 10200/10400 but probably even towards 9800, to retest the previous resistance as a big support now, it would really fit this picture, of the blue circle, making another high low at the 9800
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I have added at 10710, with a stop around 10770 for my complete short position註釋
It's taking to long, i am out around at money註釋
Could be seeing a small spike up now, since the market clearly does not want to go down and make a healthy correction註釋
And there is the spike up i predicted would happen. Lets see if it can make a flag and push another 200 points further. What a funny market it actually is sometimes :)註釋
I think i will start to build up a big short position from the 11.100 to 11.400. Not sure yet, depends on what kind of moves it will make the rest of the day.註釋
Change of plan, I think we are going up from here now註釋
It should stay above 10300/10350, otherwise it will drop towards the 9900/10000註釋
Get ready for some wash trading, 400 BTC between 10430 and 10450, 3 different sell orders :). I would be surprised if it does not push through it註釋
Seems like the original plan will be seen today, the first chart i mean. But i have another bigger plan in mind for a few days now, you will see part of it in this picture. My expectation for the med term, is a big drop again towards the 6K low. I think we will go above the 11K again, somewhere around the 11.200/11.400, and from there on we will see a big drop towards the 6K. So the big inverse H&S where many people are talking about, will not be completed and will fail. Mostly when that happens, you see an acceleration to the opposite side. I will post this in another chart later on註釋
I have seen this exact same candle a week ago, around 10250, when it threatened to drop. It was 1 big buy order, pushing the price up 80 points in a blink, and still had 250 BTC left in the bid at that 80 point higher price. That was a 100% rescue operation order, which did work perfectly. Because from that point on it moved slowly sideways and up註釋
I hope my last few updates have convinced you that this market is manipulated to maybe extreme levels. I have seen many charts and pictures in my 20 year TA life, but it's only the Crypto market showing me new ones :). Everything pointing down, almost 100% (on the 1 and 5 min chart) but still we go up. I have seen these moves so many times already with Bitcoin, you learn after a while, when you burn yoursef the first few times註釋
Clearly i jumped in to early, i though i saw some weakness but i was wrong. I have shorted it again just now around the 11.000. I am going to build up a short position up to 11.400. with a wide stop around 11.700I see 2 options for now, we turn around here with a max of 11.100, of we can go towards the 11.400 and turn down again.
A third option, i think is less likely but could also happen of course, a an up wave towards the 12.000/12.500 making a bull trap with that big inverse H&S everybody is looking at
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Still showing strength , almost looked like it would form a small H&S, but it did not even come close to completing the right shoulder (yellow area). Wich shows reall strength, i only got 40% in at 11000 and around 11100. But i wont be adding and lowered my stop to just above the 11100. IF it breaks through, i will stay flat and wait for new signs註釋
It's not really pushing through yet, if it's going to make a rising wedge, i will short it again, otherwise gonna stay on the side line. But i will for confirmation first註釋
Each exchange shows a slightly different picture, this one is from Bitstamp, not the best wedge but has some characteristics. I hope for one last push just above the high, if it does, i will probably short it around 11.200. It has to fit the timeframe, otherwise i wont do it註釋
I am going short again, a bigger position. Taking to long pushing forward, highs getting less high註釋
It should not get above the 11.100 now, and especially not above the 11.200, otherwise my theory about this pattern is wrong免責聲明
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