TradingView
adolf512
Jan 22, 2017 12:53 PM

bitcoin sell signal Short

Bitcoin / U.S. dollarBitstamp

Description

It failed to each previous high and the uptrend is now broken.

Comment

btw: we saw a similar scenario at 810$ before the increase to 910$, TA gave a clear selling signal but the price went up.

Comment

Now the price is stable at 920, now i am waiting for the fireworks :)

Comment

nice 2% fall. I guess it will continue down a lot more.

Comment

i am now waiting for the fireworks, this might be brutal.
Comments
DanielPang
What is the price target for current fall?
adolf512
@DanielPang, 826.03$ according to my random number generator(in the span 500$ to 920$), actually i do not believe in fixed target's, you have to be flexible and adjust to new information.
RobinBu
nice name addi
YardleyRosette
What is TA?
adolf512
@YardleyRosette, Technical Analysis.

This is an example where this method failed
but now the price is higher making a fall more likely.
bysteven
@adolf512, I also noticed that - I think this is big money playing with patterns (that everybody knows by now), then making the market react quite the opposite of what everybody would expect. With everybody loosing money, the big guys making money instead.
adolf512
@bysteven, not sure what is is, i have seen TA fail many times so i would not take it too seriously. Of course it could be institutional investors hunting stops and crashing the price to get the stops activated allowing them to go long from a lower price.
More