Next target around 11.700
It is looking very weak now, after all the efforts of a few (the support bidding what i mentioned several times yesterday) of holding the 12.400 to 12.200 levels, it still made a big drop!. Even the 11.600/11.800 only gave a temporarily support.
For the short term bearish scenario, it should idealy stay below the 11.800. 12.300 is really the max for the bearish momentum to stay strong. As you know i have opened a big short position wich i started to open from the 12.600 and added up untill the 13.000. I have been trading allot in the mean time, because that's what i do, but for the 'longer' term (days/week), i have lowered my stop to around the 12.300 to guarantee a nice profit. My target is still the aorund the previous low at 9K and probably even lower. This was my plan from the moment i almost perfectly nailed the bottom at 9.400 and turned long there. I would wait for the 12.500ish levels to go short again at higher prices for the next big wave down! So far this longer term plan has worked out perfectly and i will stay with it.
I will however adjust my stop ofcourse and i will adjust my view, only when i will see new signals that tell me to do so. BTC can always be very surprising.
The one thing i am surprised of the most, the small amount of likes i got. I have some new followers the last few days, but it's still really disappointing when you look at the fact that i pointed out the bottom around 9.400 and predicting the top now around 13.000. That's why i have not been giving any updates today.
So, followers for the ones who appreciate my charts and analysis and the many updates and even more the time and effort i put into them. I suggest you give some back :) I am not talking about money, just try to increase my views. One follower suggested i should use twitter, maybe i will do so in the future, but i just don't have the time to look into it for now. Maybe for now someone can do it FOR me instead :).
There it is, the upswing :), just to easy sometimes!
I opened a new chart/idea again