Next drop $7500?

BITFINEX:BTCUSD   Bitcoin / Dolar
As I have already interpreted in the last idea, it does not look good for Bitcoin . Now there is a breakout from a bearish flag and I'm just waiting for a confirmation. Since I'm almost certain that Bitcoin has no chance to go up again (no volume , no divergence, bearish breakout), my short term target would be $7500-7000.

Cheap coins are waiting for us.

Good luck.
Komen: There we go, I meant down we go. I hope you guys see how I improved my trading skills last days and I will get better.
Komen: Strong support at $8800. Could bounce one more time to $9500 until is goes down.

It was just a joke guys. There is no sign that this will go up again. You see the small correction like we did before? I expect a huge red candle. Lets see what will happen after 1D candle close. :)
Komen: Daily candle closed below 8800 very bearish sign. I wish you good night and have fun dreaming of cheap coins :)
Komen: Wow what a unexpected strong bounce with big volume in it. I will update later with clearer signs.
Komen: We don't make FOMO because of a small ''pump''. If you look at the structure then we just make a bigger ABC pattern, nothing special. The greater the correction, the greater the upcoming impulse.
Komen: For people who cant stay calm because of a small rise, here you get the scenario I am looking for right now, which can change every time. My joke is becoming true: ''Strong support at $8800. Could bounce one more time to $9500 until is goes down.'', onlx that the strong support was at $8500 :D.
By the way: I am still bearish as ****, nothing has changed. We will get our sales.

Komen: Note: It should be 38.2% retrace, sorry for that.
Komen: 1h candle closed perfekt at my target. Now the question is: Do we get a hard drop or a corrective flag. If we get a hard drop my idea will occur. If we form a flag, Bitcoin will rise one more time.

RSI is nearly over sold.

Let's take our eyes open :).
Komen: I just want to make it clear that a flag does not equal 100% upmove. I repeat one last time I am still bearish. I will not change my opinion just like others, just because we have risen by a few dollars. Before that we had a strong dump and people still looked for a reason to be bullish and still do. Before I have no bullish mark, I remain in my opinion.

By the way: Last update I meant overbought.
It's likely forming a flag.
+2 Balas
E55 i04e12
@i04e12, Flag doesnt mean 100% upmove. I am waiting for volume but nothing.
+2 Balas
@E55 , agree 100%. I have been with you on this trade from beginning February!
+2 Balas
agree with you, could head even lower
+1 Balas
I agree...
+1 Balas
you always bearish
Masterluc 's chart from May last year
+3 Balas
I think we are moving in a large bear flag. This will most probably be the last touch at around 9500usd. Then down to bottom of flag with most likely break down. This should take us to 6700 roughly in the next week.
+4 Balas
E55 BrettduPreez
@BrettduPreez, this is also what I think.
+4 Balas
8k and 618 fib were enormous support zones.
Only way this is unexpected is if you're an uber bear.

Why does everyone scream bear when it's clearly going to bounce off support?
Wall street is here guys.

20K here we come.
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