TomProTrader
Short

BTCUSD: STALLING AT KEY LEVEL IMPORTANT CORRECTION #BITCOIN

BITSTAMP:BTCUSD   Bitcoin / Dollar
1207 23 12
Traders

After an up move into the demand level , the trend has stalled, and we stalled again giving us a double top at demand. We have multiple reversal candlestick patterns at the top of the range, showing us graphically where the bears were going to step in.

UPDATE: Since the bear momentum began, we have had very thin trading activity (Due to festivities and the such obviously, but not bothered, looks weak, and will look for the downside regardless of whatever happens.

There is a Butterfly possibly in play, with the PRZ#1 and expiry some distance away, so we won't see them until the future, however, the bears might start putting pressure to the downside towards these levels. Will update in the future.

Best of luck
Tom

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To be true to the pattern at hand it is not fully fulfilled and confidently acted upon until D is reached
hense Im sure why he said Possible butterfly
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IvanLabrie PRO cryptopicasso
Yep, this.
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Calling for $120 just shows complete lack of understanding of fundamentals of bitcoin ... I'm surprised this chart even received 5 likes.
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I never called $120. I just showed a potential pattern :-)
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flibbr PRO TomProTrader
Your chart pointed to $120 with an additional 3 notes talking about it. So, to me, thats pointing at and calling at $120.
Your chart is talking about taking out 9 month $220 support with the halvening coming up and go and sit on new lows after we broke the 200-300 range and then test 300 as resistance turn support..
Like.. This is purely a technical chart. No knowledge of BTC clearly beyond candles on a chart.
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No, I merely outlined a harmonic pattern. My core analysis was based on price action.

You perceived this as the pinnacle of my idea, nobody else.
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TomProTrader PRO TomProTrader
"There is a Butterfly possibly in play, with the PRZ#1 and expiry some distance away, so we won't see them until the future, however, the bears might start putting pressure to the downside towards these levels. Will update in the future."

Probably read the entire idea. Be less confused then.
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Fundamentals don't mean much overall...price can take a massive plunge like that, it's technical analysis.
Sometimes both go hand in hand (and create beautiful setups) but they can also detach.
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great, more bears got rekt.
http://prntscr.com/9n26xw
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I don't mind being wrong for 2 reasons. 1: because I'm usually lethally accurate

But most importantly. Because, you did not know the direction, and neither did I. If you was sure you would be in a beach house in Miami but you're not. It's easy to laugh at the opposite pole when it's in hindsight.
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