Bitcoin trend is seriously at danger. With the huge uncertainity incoming that could result in a bitcoin split and the total chaos, bitcoin has suffered a strong dip, with total lack of bull resistance. I'm expecting a strong bounce in here, as the Stoch RSI and the RSI both basically gave buy signals. The shape of that 4h bottom candle also suggest a reversal. Closing the next 4h candle above the black dashed level (2325-2330) would support the strong bounce incoming. The red points lines are my short entries. I will ladder my short entry and sell 20%-30%-30%-20% in each level (2454, 2546, 2644, 2752). The second black dashed line would be my stop, though i will closely monitor the market in case the stop needs to be changed. Once filled i would target the 2325 level, the double bottom level, 2135, the pink line at 2040 and ultimately the blue and the fib support from this 3 months parabollic move at 1700 area. Good luck and trade safe.
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Right now looking good for hour short. We need a bit more down and we will get to new bear signals: macd and 55,89 EMA bearish crossovers. We also have the bearish divergence in RSI and the 0.786+0.618 rejection.
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To follow my insights and decission on this short consider following this idea
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etiennez0r
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There is no more margin available in kraken to buy btc in BTCUSD pair, what does that mean? fall is coming?
etiennez0r
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@bagofXMR I'm reading about segwit wait may be over, 80%+ of the hash power signaling segwit support now, if that is true the price may get a big pump i guess
mozartc
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By the idea that is in the graph, from 0 to 100, what are the chances of being materialized in the current trend?
CovidScamIsAnIQTest
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okay, if i use coinbase, i need to do a $50 adujustment. Thanks for sharing.
filbfilb
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you love being the bear :D
bagofXMR
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@filbfilb, longing bull markets is for pussies, too easy :P hahaha
etiennez0r
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impressive, arriving 2325 minutes before the 4h candle close..
bagofXMR
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@etiennez0r, The composite man makes ta too, they now where to drive the price to find buyers/sellers to rekt :P
etiennez0r
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"back to normal"
bagofXMR
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@etiennez0r, "back to normal" they said. "10k incoming" they said :P (i hope i dont have to swallow my words tomorrow)