This is beginning to look very bad now. It's still the same % correction as the last one from the 17K top. But if this drop will continue to the 12,500, than consider it as a very bearish sign! I see the 12K as a very strong support level, but below this level, the doors are open for 9K and even lower! Please read my last analyses for more info, where you can also see i predicted the right shoulder of this big H&S. But even more why this drop is very different than the others before. The green line is the most bearish scenario, i expect to happen. It's on a very big support level around 14.500 (a level i have mentioned for weeks now). If this gives enough support, than everything could still be good and the price could go up again. But it has to rise hard and fast again to gain new momentum!
Komen
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So everybody got f..ked again, realy really hard, who have been trading with leverage!!! Because of things like this, i just think this whole crypto (trading) world is a big joke. Not the tech!
This far my green line scenario is still in play. But i still espect an even bigger H&S, jut look up my previous analyses. The coming 2 days it could get back to the 15K/16?! I have closed my shorts at 12.750, 4.500 points profit :) Good luck!!.
Komen
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Funny that when the Future exchanges are closed in the weekend that everything goes up again. Coincidence? I dont think so! The green line is still what i expect will happen for the coming days. It's making an upwards wedge now. somewhere between 15K and 16K i will load up several short positions again.
Komen
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Green area is a but, blue is the max for this drop, under the blue are is very weak, than it wil drop to at least 10K. I expect a maximum drop to the 13K lows, from there another rise to 15K and at best 16.000. Between 15 and 16K i will load up my short position for another big drop to below 10K. But things can change ofcourse!!
Komen
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So far a peefect drawn picture :) To be clear, i am not going long at the green area, it's a good level to close shorts and wait for a rebound to around 15.500 to go short again
Komen
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I expect one last small drop in the form of a descending triangel to around to a max of 12.800 to go up again to the 15.500.
Komen
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In the green area now
Komen
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Bottom seems to have been set, above the red area, short term down trend over
Komen
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I am going long now at 12900 with a short stop
Komen
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13.600 still a resistance, but i am almost sure it will break. I have put my stop at my entry level for a free trade. First target 14.000/14.200, second target 15.500. I wll close probably close and turn short some where in between
Komen
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To bad it did not get any higher, the market is still very weak short term. That's why it's important adjusting your stop. I had 800 points plus, but i really thought it would get higher as mentioned before, that's why i only put my stop to my entry level.
Its still possible that it will go up again to the 15K/16K level, but it's getting less likely now. 13.200 is the first (small) resistence
@BotTrader,
Thank you very much, at least someone who appreciaties my analyses :). People here only want to read positive story's about cryptos i think and don't have the need for winning trades.