tipere445

The beast is about to wake up

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Good day folks,

More I look at the chart, more I think that there is a big move coming in BTC . Looks like BTC is making a reversal pattern, however, it remains a bit early to tell imo .

Bullish scenario 1 (green): this is my favourite as it would be a cheaper and safer entry. Also, the chart still looks bearish in the short-term. I would initiate a long position around 3200.

Bullish scenario 2 (purple): if it continues to bull for the next few weeks, we could have a breakout of 4200. In this case, I would open a long.

Bearish scenario: well, if 3200 doesn’t hold, next support is at 2000.

Thank you,
Comment: Bullish scenario 2 is out of the question; so let's see if 3200 hold.
Trade closed: target reached
Technicals are irrelevant when the fundamentals are unsound. BTC is not real money; it has no intrinsic value, it is shadow currency. It trades exactly like an out of the money option near expiration.

Target: 0

A perfect short IMO...
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