moker-X
Short

BTC/USD might be calling for a mayday soon. Expect panic selling

BITFINEX:BTCUSD   Bitcoin / Dollar
The ABC correction from the 305 top has finished off exactly as predicted, see chart. After the bottom of C, the downtrend resumed and touched down on the (minor) 266 support. Of course a rebound was to be expected as prices don't move straight down or up.

Now we are looking at a bearish wedge forming with a possible break down sometime tomorrow, or wednesday at the latest. The breakdown will take us down to the previous low of 255-258.

At this moment it is becoming more and more dangerous to short this market, even though there is a possibility of a flash crash to the lower 200's. Either way, we are approaching bottom, meaning despair phase will kick in and shortly after this we might see some pretty amazing action towards the upside.

Good luck to all traders!
moker-X
2 years ago
Looks like buying pressure is drying up... I think scenario 1 is going to play out, there is not enough steam for another push to 275.

Odds are 75/25 in favor of scenario 1.
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moker-X
2 years ago
Mayday, mayday, going down
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moker-X
2 years ago
Possible flashcrash coming in the next 48 hours. Watch out, if you don't know what you are doing stay out or you will get burned.
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moker-X
2 years ago
This thing is going to 200.
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moker-X
2 years ago
Quick dip sub 200 then the bottom will be in........
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moker-X
2 years ago
Guys this looks pretty bad. The rebound is very weak and there is still big selling pressure. I wouldn't be suprised if we would visit the lower 100's, even if for a small time frame.
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