Taiwan_Bear

Still bearish! We are ready, Cartel!

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
3920 33 97
Hi Guys,

Today, I would like to show you the chart from a bigger picture.

On the 4hr chart, you can see there are some similarities between the end of March and now. if you look at how I draw the different blocks as well as the duration it took to form the two sets, they just look so similar to me.

From the daily chart below, the pattern in Jan looks so similar to the one in April. And if you look closer, both of the blocks have been holding at the 0.886 fib retrace level for around 13 days.

So, If fractals play out nicely (I am not saying it definitely will), I would expect a break down of the current bear flag formation. And if it does, the break down would be destructive.

Please watch the price action closely.

Don't forget to give it a "Like" :)

Taiwan Bear

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Please note this post is provided for informational purpose only. It is not a financial advice to buy/sell.

Some tips for you:
- Set up an entry/exit strategy for every trade, with the ideal risk/reward ratio (2+)
- Understand that every trade carries a risk, and don’t expect you can make profits from every trade
Comment: Daily chart:

Comment: BTC is getting closer and closer to the apex of the triangle (consolidation phase). A breakout is imminent in the next 36 hours.


Here's what seems to me, very powerful force(s) (AKA cartel, if you like) are, or is, behind this, otherwise meaningless, huge pump. They are just going up to the surface, get some fresh air so they can dive deeper.
Reply
Keep posting bro, nice job. I am still holding~~~
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Taiwan_Bear AntiqueSoul
@AntiqueSoul, Thanks :) Please watch for the breakout, either up or down.
Reply
I don't believe Bitcoin will go below 6k again.
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nistic rev214us
@rev214us, BTCUSDSHORTS disagrees with you. Having said that there may be a short squeeze before it heads to 6k.
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@nistic, We already have a higher low; if we get a higher high, bears are finished.
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nistic rev214us
@rev214us, Best of luck to all
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@nistic, Thanks. Same to you. Just keep in mind that price can only go down so far. Playing with leverage at this point is very risky.
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nistic rev214us
@rev214us, Totally agree on the leverage point. I'm in USD for now as I do believe there will be one last large dip below 6k before we turn bullish. If I'm wrong I will definitely jump on the train ASAP
+1 Reply
@rev214us, I think there is too many people shorting at the moment. BTC might drop to 6k then going back up to 8k. When most people think it's bull run again, then that may be when 4.4k is on the cards.
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