Busted out of the long just under the target at 11738 on the
Bitfinex feed with the high at 11700, some 38 points shy of
the final completion target. Cruel Bitcoin . We were looking to
short from the target - those who did so have been rewarded
for their courage. If you were one of them then well done to
you. It was close to perfection, but not exact. Sorry for that.
So now we are short and looking for a test of 10740 line here
before a decent bounce where we can look to close out any
shorts - think it will bounce but fail here later, coming back
to the lower parallel at 10448 on Bitfinex where it should
begin to rally again. At all costs 10448 must continue to hold
up throughout the day today. For any failure here would tip
Bitcoin back into the hands of the bears again who won't
release their hold until 9285 is tested. If we see this develop
today we can short again - but right now we need to keep an
eye on the lowest parallel at 10448. It must hold up today if
we are to avoid a serious day of damage unfolding right across
the entire market.
* For updates in real-time please see top left of main page
Drop the stop on the short to 11005
Or can close out here for 250-300 or so profit as there is support potential off the dynamic running from the February low. It falls back in to the hands of the bears again when this line is broken and should then head for the lowest dynamic on this chart, the parallel lower down where it should hold and bounce . So if closing out look to short again when we see 10855 broken for fast test of 10755 line, a little bounce and then failure again back to 10480-104034 range .
Or can stay short and drop the stop, as above which should pay off later...and if not we get busted out for 50 to 100 profit instead.
Right on the line...next short
trigger close - if short close out now and get ready for next phase if it breaks below blue support line at 10750
Bitstamp Chart Update
*For updates in real time please see top left-hand of main SS page for details
On downside the lower parallel must hold up from here to avoid further potentially substantial weakness overnight
Next, I will wait for a better price of about 9 000 or 8 000 and again buy up to 15 000 or 16 000, there I will again get a good profit!
But still I think from 6,000 I will also buy up to 16,000.
In general, there will already need to look at the situation, what to do better, because everything changes at the market every minute, just the signal itself and the forecast, too, change with every hour!
At 22 000 we will not go soon, will be in place for a long time, and only in the summer after we go down to 2 800 or 3 000, only after that we can go to 22 000)))
All the best!
It's all Smart calculation)