BTCUSD: Buckle up, bear market started.

BITFINEX:BTCUSD   Bitcoin / Dolar
I think it's possible $BTCUSD might have ended it's 2 year bull market, and now entering a correction/consolidation phase. I'd expect some altcoins to fare well, so I will try to outperform $BTCUSD strategically shorting when needed, and holding exposure to select altcoins in my portfolio. I have reduced my crypto account size to be a mere 25% of my net worth in December 14, anticipating this outcome.
For now, entering shorts can be done on retrace, if it happens tomorrow, but, it is risky, since calling the top in this type of enviroment is always hard. I'd rather focus on reducing exposure and holding altcoins with the rest, and using shorts sporadically with low risk per trade (1% max, tight stops).
As a sidenote, it seems like the main mineable coins are not going to fare well, $LTC, $BTC, $XMR maybe, $DASH, $BCH, all look frail in their dollar charts, with $ETH and $NEO looking much better, or even $ZEC, $ETC, and a few more.

Best of luck,

Ivan Labrie.

PS: Sell Ripple, it's a scam. The top target zone I had outlined was 2.4-2.8, and it was already hit. Not worth holding on to it.
Komen: $BTCUSD chart implies we can get a 65% crash, interestingly this is what I had anticipated by copying the 2013 top pattern and subsequent consolidation, but adjusting it to today's volatility Contuining to guess, we could see a rally to $75000 per $BTC.
Komen: About $XRP:
Komen: In the short term, BTC is moving too fast up, the inside bar today is not too good for a bear case, but I'm still not comfortable owning BTC. If we don't go straight down, I severely doubt we go any higher either, maybe just sideways.

Either way, the short trade had a stop loss that can be hit, and if so, would take us out for a 1% loss. -Not a huge deal-

Meanwhile the coins we hold off exchange have grown both in BTC and in USD value, so it's a win win for now. With some luck BTC doesn't outperform the portfolio.
Komen: Daily uptrend signal forming in $BTCUSD After this pans out, we could either go sideways for months, or break the ATH, culminating in a top by May/June. Chances are we saw the long term bottom in $BTC already, from the last peak at least.
Komen: I'm reducing my crypto account size to 25% of net worth, $BTCUSD is failing to meet a target here, which is a negative signal. Fund equities account with 75% of your funds and hold spot BTC, as an insurance for exposure to traditional finance
Komen: We had added to the account recently, with the lowest entry at 6500. We also took some margin longs that we closed yesterday.
2 years of bear market.. Could you please tell us about why it is so? According to Technical analysis or fundamental? Thanks.
@HondaJr, technical, fundamental can't time the market like that.
HondaJr IvanLabrie
@IvanLabrie, thank you!
Hi Ivan - thanks for the update. Quick question - "BTC/USD is falling to meet the target..." - which target you were talking about? Thanks!
+1 Balas
@yezu, It had to hit 11784 today...else it might fall back to 7880.
yezu IvanLabrie
@IvanLabrie, Thanks! Much appreciated.
+1 Balas
11,000 to 7,000 max, then Load the boat and hold. Even here is ok.
IvanLabrie Rocketman
@Rocketman, depends on the timeframe you operate on. If investor you wouldn't mind the downside risk and accumulate on big enough dips.