Huge target $4000 stays - I told you

BITFINEX:BTCUSD   Bitcoin / Dolar
Patience is key and this is why I said wait for clear sings of an uptrend.
Just look at the volume , there was nothing. Buyers were too weak for me to begin a new rally. And stop getting bullish because of a small uptrend. After a huge drop there will always wait a bigger correction for us, this is the normal circulation of a market.

Now here we are. The question is now: Is this the end of the structure?
My answer is: We don't know.
Let's see if we can break the bottom. If yes next big support is waiting at around $7000-7500.

I am bearish and will stay bearish until we see the bottom. No upmove in the world will stop me.

I wish you good luck my bears.
Komen: IF we go down more it is very likely that we see a pullback at $8700-8750. Nothing special. RSI oversold and needs a regeneration.
Komen: Looks like Bitcoin going higher. I see $500 potential to the upmove before it goes down.
Komen: This probably will go one more time up sharply to ~8800$ to complete an ABC pattern. Would like to show it, but have only my phone with me. If I am right we will test $7200-7500 area. Stay prepared.
Komen: *if I am right we will test $7200-7500 area after that.
Komen: Wait until we go below $7900, look for a bounce and a flat if you want to take the trade. But after a breakout of a flat put a stop loss below the previous impulse to stay safe. I won't take it because I don't like to trade corrections.
Komen: Doesn't look like we will see $8800 but possible. Nevertheless we should break $8400, so if you are in put your stop losses with the move.

This will be another huge fall.
Komen: When we break $8800 with confirmation I will look for buys. This would mean we will have a bull run until we see the drop.
Komen: Perfect prediction. We broke $8400 and didn't see $8800. Now we closed daily candle at ~$8300 what is a bearish sign.
I will post new chart when we reach $7500-7200 because target stays like mentioned in the idea above.
Good Call so far. Well done.
Next Trade points For day traders Saturday
Well done with the updates.. much appreciated
Our algo says $3,200 let's see if it overshoots your $4,000 target. Thanks for the posts.
E55 london55555
@london55555, I would not be so sure. At the last crash nobody thought that we would see a reversal at 6000. Usually something happens that nobody expects. That's pure psychology.
@E55, To be honest we don't even consider this to be the real "crash" As I think I had mentioned we write our own algos and we'll know in advance when the real "crash" is about to hit - at least hopefully we will. Again, thank you for your posts/charts.
Nice. However, I still think you will se your’s 8800 (maybe 8900) then it will drop hard. Totally agree with the ABC correction, that’s why I think there one more up move left to complete wave C. Let’s see. Great work!
doctorkesh victorrbs
@victorrbs, there is a possibility of even 9500. However, overall target remains 5200 for me for the big buy.
E55 doctorkesh
@doctorkesh, Yes everything is possible before we see the huge crash. After a break of 9500 we will easily make a bull run to 13000.

So: Either we break in the next time or see a bull run to 13000 and then crash.
@E55, I don't think 13k is possible at this stage. Overall market volume is decreasing every day. The whole market is being manipulated and run by exchanges and whales at the most. The day traders are basically side trading. No new money is and will come until the regulators show their clear plans and intentions. And since there is a limit to what even exchanges and whales can do, I personally do not see BTc crossing the 12k mark for the next few months.

Once again this is just my personal opinion. 9.5k over this weekend is possible. Then on Monday and Tuesday we have the G20 summit. Japan, France, Germany and India have already outlined their views about AML and regulations. IMF chief wants to 'fight fire with fire'. US congress hearing on the 14th was not very good. It is just my opinion, based on my observations since 2013, that BTC is going to remain in a bear trend for a few months at least unless something very dramatic happens.

Back in April 2013, when BTC fell from $250 to $67 in a day, the reason was that Mt Gox was unable to handle the number of people visiting its website (not a DDOS attack). This was their statement.


These days bitcoin is much strong, but then what is being brought to attention is all negative. All cryptos are now being associated with terrorism, illegal activities, drugs, trafficking, ransom, and money laundering. The only positive words that came out on the 14th of March were 'protect the innovation' and 'do not over regulate'.

The question that we should ask ourselves is this: If we were a first time investors in cryptos, would we invest at this stage or wait till the storm was over?
E55 victorrbs
@victorrbs, it doesn't need go till 8800 to complete ABC. $8800 was an estimate. It is very likely that the ABC pattern is already completed.
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