7th April Bitcoin - Short for final crash

7 Apr 2018

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.

7 Apr 2018

Nota

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

7 Apr 2018

Nota

Possibly has started the down move.

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

8 Apr 2018

Nota

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

8 Apr 2018

Nota

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

8 Apr 2018

Nota

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

9 Apr 2018

Nota

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.

9 Apr 2018

Nota

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

SL still at 7200

9 Apr 2018

Nota

Move SL down to 7000

11 Apr 2018

Nota

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

11 Apr 2018

Nota

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

11 Apr 2018

Nota

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.