FerroIgnique
Short

Bitcoin Macro Trend Targets

BNC:BLX   BraveNewCoin Liquid Index for Bitcoin
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Target 1 assumes that we bounce of the 50 Monthy SMA as we have done every time we start stacking consecutive red monthly Heikin Ashi candles with the Stoch RSI maxed out. Maybe we make contact, maybe we stab through. Who Knows?

Target 2 Assumes a zipper ABC Correction, Target Approx 3200

Target 3 Assumes were going to be above Stage 3 of a 12345ABC correction, target would below 3200, but above $1170

Target 4 is the floor. We break Level 3 its going to be a blood bath and I'll trade it as long as I can.

I could have made an absolute sodding fortune this summer, but I was timid to be in BTC because of the NTV signal, so I traded under performing ALTS and every time I'd see divergence build up I'd get ready to short, but then BTC would blast up making the divergence convergent again. A single Red Candle day would have me build a short ladder that would get stopped-lossed out after a couple of rungs got triggered. Pathetic Give up of Gains


New Strategy: wait for successive candles to form, no opposing wick and shadows, flat bottoms trends. with a stop-loss a day or two back on HA Open. In the Summer bull run it was a rare event that the HA candle produced a shadow that went below the previous day without forming a significant correction. Plan is to short every pump until the target gets made and structure forms. I'll Just need to stay disciplined if I get stopped out and wait a day or week until i see a trend develop in the HA candles.

I've been short since 8900 and I feel weird b/c I haven't made any trades except to use my equity from my shorts to short even more. My plan is to Pe^RT this all the way to one of these targets.
See you in the red circle.

Note: This assumes people are familiar with Heikin Ashi candles. They're based on averaging candles, so the a candle will open at the previous days midpoint, which really smooths things out and removes noise. Please read up on them, they can be very dangerous if you don't have stops and are trend trading around a reversal.
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