Tendorian的BITFINEX:BTCUSD的7th April Bitcoin - Short for final crash

7th April Bitcoin - Short for final crash

My intuition long trade was wrong, but surprisingly price managed to not hit my SL by 20 cents. And managed to turn a wrong trade into a profitable one, I must admit that was luck. But now everything is clear, I did expect this upmove and means that there will be a downmove to under 6200. This downmove should be fast and painful.

Short
Price 6830
SL 7100
Target under 6200

If price goes above 6900 I will add to my short position.

註釋

So long as 7100 is not taken out, I am still bearish. The 100 EMA on 1H is providing some strong resistance currently.

註釋

Possibly has started the down move.

Just realised I wrote a mistake, should be 200 EMA and not 100.

註釋

The daily has failed to hold above 6900, should give fuel for the bears.

註釋

Even though my stop loss got taken out in my previous post, I still see this down move coming.

Open Price 6970
SL 7200
Target under 6200

註釋

If this 7200 gets taken out, then I will reevaluate my whole scenario.

註釋

I consider this upmove to be the C wave up of the correction, what we had was an expanded flat correction. Which means the move is complete or nearly complete and waiting to begin the down move.

註釋

This should be the beginning of the downmove to under 6200.

SL still at 7200

註釋

Move SL down to 7000

註釋

Price has condolidated for a whole day, expecting the next crash to be huge.

註釋

Sl taken out, this was a move I did not want, because to me this move means more consolidation over the coming days.

註釋

What I think we will see is another smaller correction, we do not know if this develops into a flat, expanded flat or running flat. But I will get in at the end of the C wave for the down move. For now I am not trading this market until the C wave is ongoing.