A chart to give you targets and why I think 7600 is the most likely one.
Of course anything is possible blah blah blah careful we don't bounce too hard on 8000 the usual.
Just comparing big bleeds that happened lately.
So make sure to close your short before we get there, look for reversals on the way tho target(s), never know.
Start going long from 7800 scale in on the way down the regular stuff, the bounce should bring us somewhere up 1500$ at least so start taking profit if we get close to 0.382, and then you can probably
start opening a short position too and scale in, short more as we go up.
Same stuff as usual rince and repeat.
+++ I am not a financial advisor (good luck finding one in crypto). Trade at your own risk +++
Leverage : 25 went small didn't want to take too much risk :}
But I'm trying to compare to find the worse case scenario to make sure I win no matter what. If we get too close to my liquidation price I short more.
I'm using very high leverages even if we get "the bounce of a lifetime miracle epic rally that makes no sense BTC up to 10k instant god himself intervened" I'll lose a couple hundreds... And I think that's quite unlikely :p
Clearly the bears are losing momentum just like last time when we were going towards 10210.
Can we get another wave surprise attack of BS bad news to scare people and ruin going long at 7600-8000? Or Marc Kakapales oe w/e his name decides to sell all "his" Bitcoin. Shorting is so much less risky than going long...
"When people get fearful, they get fearful en masse. Confidence comes back one at a time. When they get greedy, they get greedy en masse." - Warren Buffet.
I'm also prepared for the eventuallity we get a higher high of course.
Sundays are rarely the big days every one buys...
I'm not being greedy anymore and keeping plenty of cash on the side to make sure I get out of the trade winning no matter what.
Target still 7600-7800.
1- Bouncing quickly fast up on 8000. Eyes peeled! If your entry is 9000+ you'll have time to react. If we go above 0.618 start worrying...
2- The big capitulation... Careful with longs. I'll make a new post warning about sudden capitulation if everything keeps going as planned.
We traders should stick together, we're here to rob the herd hand in hand! :D
But let's hope we just go all the way down...to 8000 at least.
8342 is the low of the dump for now, got to go below that at least to set a lower low and continue the downtrend.
After taking a hit thanks to the bad news rain 2 days ago, I don't feel like taking another loss...
If we go above 0.618 the odds of going down are lower.
I'm just going to short more at each fibo level and not think too much about it.
Like a robot.
Not sure how much I want to risk there, not to much but I can risk a bit the odds are pretty good we go down.
Every one overcutting these days...
Fk wanted to short more. Now I got too much Bitcoin I use for nothing and their value will drop if we go dooown.
I wonder if whales sell on Bitfinex and Okex too to manipulate the price, or if finex alone is enough...
It's just too easy for them... Pretty dumb. Ok if Mr Whale wants to make money on his short/buy low, he won't have a hard time doing it especially now that everyone is worried. Betting on the winning horse. How is that still allowed and legal...
Rising wedges: They're everywhere!
In crypto, rising wedge is the new head & shoulders.
We got so many and every single one broke bearish and went far down.
I'm sticking to the best probabilities keep sticking to what has 90% chances or more of working and you'll win 90% of the time.
Just trying to not go too big in so I don't destroy my account the 10% left :p
Could look at previous dates, but I think now I'll go out get my S9.
Probably better avoid them tbh. I'm just going to go back to Kraken and I won't try to be quick anymore. Better just give up on too low TF day trading.
I guess Bitmex only good for huge RR I'll send money there and go high leverages if there's an opportunity.
Could take all week end to slowly test things and then whole next week to go down, am I going to pay 500 bucks of fees???!
Too much pointing down the same area.
When it happens ==>
Going long from now on is going to be so risky.
Hope every one has a good risk management method, this could go very wrong very fast.
When we get out of 2017 channel, if we do, we could begind dumping massively.
Also different TA point to targets below 7000. But I'll risk a bit on a potential bounce at 7600. Just better go in big on shorts and not too big on longs imo.
Too much bad news coming out until the end of the month. As a precaution, I'd (no financial advice, just what I'd do) not to trade on exchanges which has futures. Meeting at G20 they wanna ban this first for Europeeans. Be safe brother.
0.768 bad luck. So it could easily go up to 10000 even above before going down. As long as it's under 0.618 the odds are towards bear.
There's no real sign of a reversal for now.
09-04-'18 = 41.9k (2 min ending)
08-04-'18 = 23.3k
07-04-'18 = 32.4k
06-04-'18 = 18.3k
05-04-'18 = 7k
04-03-'18 = 2.9k
20-02-'18 = 6.4k
06-02-'18 = 19.2k
05-02-'18 = 13k;
I will go long on a bounce of BTC send some to kraken to cash out in usd, also keep some tether on Binance, maybe 50/50 if we crash down, USDT might become very valuable, if it doesn't I'll just send some to Kraken and change it for usd.
I have Bitcoin on Bitmex, but just for long shorts not hodling it lol. If we go flying down and I multiply the Bitcoin here by 20 I don't care it goes from 10k to 5k in a day lol.
I am still holding some Lisk Golem BTS (for no particular reason) and probably some other alts I forgot I had.
I'll maybe send some usdt to Bittrex or Poloniex whichever has ADA usdt pairs and start buying there, also NEO.
If we go way down, IT'S GOING TO BE SHOPPING TIME I WILL RAID THE WHOLE CANDY STORE HEEYYAA!
This one @
Oh, hell yes, shopping time indeed, got my trucks parked already! :)))