Coinamic

Shooting star candle, retrace or the end of the bullishness?

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
First of all congratulations to all my Telegram subscribers, we had an amazing day trade yesterday, with fat profits in XBT, LTC and EOS . In my last idea I talked about a retrace to 4600 and how I was waiting to send the signal until things were more clear. I finally send the short signal at 5250 as well as other shorts at higher prices in LTC and EOS . My vision is still the same, either Bitcoin need a retrace or the bullishness has come to an end. Honestly I´m more inclined to the first version now, the price will retrace, it will fool everyone around and later it will start another massive impulse.

At the time of writing the price sits at 4997 and is printing a small HS in the 15 timeframe. They could maintain the price the whole day sideways and even pump it up to create even more confuse, but if you were following my signals you are now in a short trade from 5250, where we closed 50% of our short at 4900 and we left the other 50 running. So if they try to pump it before the correction we are safe with profits in our pockets, and I´ll find the best entry point again.

So we could be watching the previous days of a 6k test, that´s a very possible scenario. At the moment the shooting star candle needs to get confirmed with a bear engulfing candle. As always this needs to get confirmed with a solid support which so far there is not. Take care and thanks for following me.
Comment: Current HS target.