SuperShibe

Bitcoin CME Futures Cycle - Next Cycles Begins

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
My hypothesis, lets see which way we go.

My bet is down as there is too much supply.

Such patterns much profit

Target is lower support around $6-6.5K if this doesn't hold then capitulation....which we need!
Yeah seen the bearish DIV just wanna know if I should jump ship. MEOW
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SuperShibe Wael613
@Wael613, my issue is that divergences on larger time-frames sometimes can persist. I have been slowly building a short since $9.7K at resistance. Patience is key and be careful with bull traps. Lots of washing going around in this range - likely distribution happening. the price was washed hard in the $9.2 range at futures close. I will share an analysis of futures traders I have tomorrow - it is only non-commercial traders using CME - i.e big BTC hands...
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Wael613 SuperShibe
@SuperShibe, Yeah I got a larger ammount of bTC so hard for me to get in and out - I got in around 7600 and rode it to 8500 than got back in around 8900 - I may just put a tight stop loss at 8900 or if we reach up to tag resistance in the triangle we are playing out I may sell at 9.5 but everybody and their DOG thinks we are bullish. Could be a real rude awakening. Thing is some alts are doing REAL well.
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Nice hidden bearish div there btw
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SuperShibe Marcus_Aurel
@Marcus_Aurel, Lovely isn't - thanks for the comment. Lets see how we play out if the daily MACD rolls over.
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SuperShibe SuperShibe
@SuperShibe, Isn't it**
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Finally a Idea with good sense. The voice of resaon. Take my upvote sir.
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SuperShibe Marcus_Aurel
@Marcus_Aurel, thank you
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