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Acel
Sep 28, 2018 8:30 PM

BTC/USD - The last short Short

Bitcoin / DollarBitfinex

Description

Bitcoin is making a series of sideways 3s structures. This is yet another one, which hints to a potential ending diagonal and favor the scenario that this correction is coming to an end very soon.

My bias is to the downside since i expect pullbacks on the majority of the alts in the short term.

Comment

Bitcoin is turning around after a 3 wave pullback. Im removing the limit orders and watching this develop to either a double combo or a triangle pattern.

Comment

Triangle ratios fit, it should fail to take out the (c) high on this scenario and the .618 is on top of the 0.5 from the last decline. Essentially this a zero risk trade since the distance between the projected (E) and (C) is minimal.

Comment

Bitcoin has a bearish structure -complex correction / bear flag. We are trying to find the top here. 7k is definitely possible just as Mex shenanigans.

Comment

Bitcoin finally makes a move since we expected volatility spikes sooner or later.

This is a move you want to see out of a triangle, so there is more downside here.

Trade closed manually

Tether speculation and fear pumping the price. Charts are different on every exchange, will waited out till the structure completes. Bearish below 8.5k even if it has a 800$ premium on finex.
Comments
UncannyDeduction
Hmm...
Acel
@LogicalDeduction, I was waiting for 5.8-6 where the ((A)) is. Maybe you have something around Oct 10th that you wanna share with us? :)
UncannyDeduction
@Acel, I've got 5 ideas about the turmoil around 15:th October.
Acel
@LogicalDeduction, Hmm nice, the fib time was 6 and 4 days early on finding the top of the previous pumps. Very interesting that you have something around that date.
UncannyDeduction
@Acel, Here's a chart of gold/russian ruble... There are 4 other emerging market currencies that seems to have the same patter converging the 15:th. Links can be found inside the idea below:
TomPower
@LogicalDeduction, well I feel like i'm in amongst giants with you 2.
TomPower
@TomPower, ok looks like the ultimate floor is high 5s, at last we can probably go long here as I have FOMO and thats no meme
Lakshmi-Trader
I think bitcoin will move in the following way.
Acel
@Lakshmi-Trader, mate this idea is from late Sept.
vickydaswani
the only btc strategy you need to know, the legendary strategy
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