Echo of downtrend signal. >> BTC reversal incoming <<

BITFINEX:BTCUSD   Bitcoin / Dolar
Hello there. Since I am streaming BTC/USD there appeared some number of topics under my autorship swinging between long and short. You can check them how did they work and how my signals work.
Far from echoing these reminders I would like to put clear statement in this idea, reassuming point of view on this coin.

Why Monster Long targeting 24k USD didn't work? Because I expected decent volume that would confirm this thesis. We entered early enough to watch the situation and had to exit in proper time to avoid losses and set position at correct side. Are We close to the direction reveal? Look at the chart. I opened first trade at 8800 and poured core near 8100 (there is no green arrow because this idea was set up on 4hr time frame chart). Closed this long at 10600 because there was lack of strenght signals. Overwritten position became less powerful when a shade of hope appeared. I closed the short and respected BTC's possibilities and was waiting for volume confirmation. It hadn't happened, and now We experience the beggining of painful phase where smart investors make the best profits. It is not the first time where stock asset gets cut in more than half, although BTC             could be the only one that ignores old market rules and breakthrough upper resistances ...
It failed in second attempt at horizontal resistance (violet one) because no additive volume appeared.

Every cryptocurrency experienced huge boost in value. And people are still buying because of forks,airdrops etc. It is sign that investors are distributing their coins to us.

What to expect? We wait for cheap Bitcoin             . For me it is <1000 USD per 1 coin. Long term position could have just begun.

breakout on 4hr chart confirmed and retested with bear volume:
Perdagangan aktif: 8900 and pullback
Perdagangan aktif: pullback to neckline of double top is expected (9500 area)
Perdagangan aktif: Next step. Explanation on the chart
Perdagangan aktif: * $7000 target expected from Double Top pattern
sorry for mistake.

Someone could fall into despair looking on such vital bounce.
My state is: don't get fooled with this kind of volatility. Market is still bearish.
After breaking our FIRST resistance, which is green line, freshly broken. Why isn't it signal for reversal? Because true reversal needs to be confirmed through various indicators, not only one-direction line. There is easy way to accumulate gains by waiting for such occasions like now. Double top pattern is in play now, so only series of strong breakings could put us into inconfidence.
After green resistance there is next border with tough resistances. First of them is EMA 26 - simple but very accurate indicator that works especially during downtrends - big investors use it to trick longers and urge them to buy.
Last the strongest resistance is placed near 9500 level - that's neckline of double top. For now, We have only retested this. We could break bear flag and turn back to slipping.
Perdagangan tutup: hentian tercapai: Stop at 9600 triggered after breaking the neckline of double top.
There is also sign of uptrend continuation since double bottom pattern confirmation.
Let's stay flat there till new opportunity will appear.
Perdagangan aktif: BTC has struggled a while whipping traders, is back to clear downtrend direction.
Let's hunt for 9200-9500 area
We want play this game again.
Komen: After dumping market at 9400, we are ready to hunt for $ 7000 price for BTC.
Perdagangan aktif: Entrance update:
Perdagangan aktif: All for all We need to respect major trend line
Profit area: 7000-7100
Perdagangan aktif: I have recognized characteristic market formations. We are 1 step before strong dip, but there is possibility for second one, the strongest.
So, why take profit after first?
Because We sit on nice profit and don't want to bet on our confidence that much. If opportunity for reshort appears, I will update idea under special conditions.
BTC is over, but there will appear shade of hope to accumulate longers once again. This will cancel downtrend temporarily.
Stay tuned !

MS Bahasa Melayu
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
Laman Utama Pengimbas Saham Pengesan Isyarat Forex Pencari isyarat mata wang Crypto Kalendar Ekonomi Bagaimana ia berfungsi Ciri-ciri Carta Peraturan Rumah Moderator Laman web dan Penyelesaian Broker Widget Perpustakaan Carta Stok Permintaan Ciri Blog & Berita Soalan Lazim Bantuan & Wiki Twitter
Profil Pengesetan Profil Akaun dan Bil Tiket Sokongan Saya Hubungi Sokongan Idea-idea yang diterbitkan Pengikut Mengikuti Mesej Peribadi Perbualan Log Keluar