Bitcoin crash, next target 7500 in a few days

BITSTAMP:BTCUSD   Bitcoin / Dolar
Like we have seen clearly, after a massive dump, always 80/90% chance we see a follow through. The last drop towards the 9050 was also a big and fast dump, and we have clearly broken the 9400 support level , where it has difficulty with getting above again while making this (most probably) another bear flag . So far this primary chart has been pretty accurate.

Of course we wont see a 100% identical price action, but because we have broken the 9400 support, even the amateur trader is shitting his pants right now, because of how fast the drops are going, but probably a bigger factor, is the big inverse H&S everyone was waiting for (which i have been saying whole week it will fail!!), the breakout of the long term downtrend which again was a bull trap. Just the disbelief it did not break the 12K and we are breaking the 9K now. Big chance many will give up the fight what could push price down even further.
I think even the long term investors will start to loose faith, if we are going to drop even further. I think a break of the 8000, will probably be devastating, at least for the medium term.
Than we have some big facts hanging above this market, recently we have all read the 2 billion worth of BTC that will be sold (probably within a few months) by the Mt.Gox people, but there is still the other 100.000 BTC (i believe it was in Thailand) that the police had seized and will sell (or maybe even have sold them), but everyone probably have forgotten this one (news from a month ago).

For now, it's hanging to long at the low and below the 9400, so big chance we will make another 500+ point drop soon. Unless it is able to push though the 9400/9500, then it will take much longer. I have already closed some of my short position, and i will close more if we break the 9500. (i posted this half hour ago in my previous chart, read it and the other previous ones if you want to know/learn more)

I will not be answering any questions anymore, that i have given the answers to in my previous charts. I am already putting in the hours with giving good posts and updates, put in your own hours and read my history, if you want to learn something and become a better trader
Komen: How funny would this be :)
Komen: But i dont think this one will happen though, 9K is a psychological support, which has already been broken and staying to close to
Komen: This is a scenario i think that could develop today
Komen: I took a quick look through some (the main )Alt coins, it's really looking like crap. The only one that could give a long trade, is OMG, but whats the use, Bitcoin drags them all down
Komen: I am almost ready to close my complete remaining short position, with a massive profit, it was a very big ride :) Idealy we make an small H&S here
Komen: I just jumped out, not waiting for the maximum, i just feel a squeeze coming
Komen: This could be IT, but it's moving a bit to slow
Komen: I think this is it now, a double bottom instead of an H&S, has to stay above the black line! I just went long, with a stop below the low (small position for a risky trade)
Komen: Almost there
Komen: I got out, taking to long
Komen: I am calling it a day, good luck all
Komen: I called the bottom a bit to early, but it's doing almost what i drew earlier today. Seems to have made a double bottom at 8300/8400, If it stays above that line, it should go to at least 9200/9300. I am hoping it will go towards the 9700, hopefully even higher. But i dont think the confidence is there to bring it to those levels now. BUT it's almost weekend, so manipulation at it's best again ofcourse
Komen: I am taking a (half) day off, for the ones who were with me, do the same. Don't over trade the market. Had a ride of 3000+ points, it's a bit more than average :) LOL, reward yourself

Funny how he thinks, goverments want to buy Bitcoins LOL :). About the rest, he could be right. I find it very very strange that he even announced this, he is putting pressure on his own plan now.
Komen: And again an on point prediction :) almost followed my first blue line perfectly :), I called that low at 8550 a bit to soon, but we get the picture. Now it is entering resistance zone, 9300/9500 will be a big one. But we all know what we talked about lately, it's almost certain that most people who are short or went short, probably have a stop above the 9400, the low of a few weeks ago. So i think there is a big amount of stops hanging there. Based on my 'whales' theory, we should bounce off the 9400 and drop to around the 9000 (maybe lower, maybe a bit higher, thats guessing now), This way more short will be attracted into to the market, with even more stops around the 9500/9600. So than we should see another rescue operation from that 9000 up again to break the 9400 and starting to trigger many stops, who than turn into buys, creating a snowball effect (those bulls spike rallies up, giving the assumption buyers are in the market. Than buyers get lured in, from the breakout of 9400. I think we could go towards th 9800/10.000. There the whales will start to unload again, when their done, we could see another big wave down.

Pushing all the shorts out of the market, taking their money, luring buyers again in, taking their money too at the 9800/10000, than we drop again while:
-Many shorts positions have been chased out of the market and earning money from the people who shorted it at the lows.
- AND they have taken money from buyers again who bought at the breakout.
-So now the whales (who bought the market up from the 8300 up), made a big profit from the wave up. AND they have chased money short positions out of the market and making the wave down, WITHOUT them :).

It's quite the theory, time will tell :). But it's weekend now, volume is lower, manipulation is easier to take those directions. Perfect weekends sideways action, i have talked about many times now
Komen: Posted a new chart
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Nice Post!! as usual. that big drop is the one I'm afraid of. definitely it will psychologically impact the BTC market
botje11 yusef0526
@yusef0526, Yes i will most definitely damage the market, IF the market makes that big drop. But who knows how much power Spoofy and the gang still have
Thanks! When is your next short going to start? 10k?
+1 Balas
botje11 knutselwout
@knutselwout, Dont know if it will get there, but i hope so
As you said It's going up from 8600-8500, you are a master!
botje11 santos.leracasado
@santos.leracasado, haha thank you :) i am sometimes. But we are not there yet, It has to speed up now, otherwise it will fail
Do you still think we are headed to $7500, or lower?
botje11 Teruss2
@Teruss2, Yes i am, but probably much lower in the next few days/weeks
What makes you think this will turn bull out of the blue. I don't see it happening!
ctharvey yusef0526
@yusef0526, it has to do with understand how margin trading works.
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