Bitcoin 6 weeks of distribution at $430 now headed lower

2016年1月22日

I mapped out this decline on January 20th in the Key Hidden Levels Chatroom here at TradingView.

Without going into extreme detail at this moment, I am looking for a decline over the next 4-5 weeks to potentially see the price fall to $260 from $393 at the moment.

There is tremendous distribution in the chart pattern, especially as shown by RgMov, my proprietary "trend" indicator which has been hitting new lows here lately.

$450 is the current stop but that can come down pretty quickly.

Tim 393.01 last BTCUSD-BITFINEX

2016年1月28日

註釋

So far, on track.

2016年1月28日

註釋

Lower stop from 450 down to 425.
Prepare to sell any bounces to 390.

2016年1月29日

註釋

It hit 386 today, 377 last. 386 was the bottom end of the daily resistance level from the mode from 386-394. I picked the middle of the mode at 390 to sell against. What to do now? Lower the stop down to $410 from $425.

2016年1月29日

註釋

You can have a very tight stop if you sell at 388-398, using a 410 stop (on a daily basis, this is a tight stop) and target the bottom of the current downtrend at 352.50

2016年2月18日

手動結束交易

Time expired for the downtrend (note the time box on the chart for a 6 week decline) - so this downtrend trade is over. Stay tuned.