Tom_Killick
Short

BTCUSD: STALLING AT KEY LEVEL IMPORTANT CORRECTION #BITCOIN

BITSTAMP:BTCUSD   Bitcoin / Dollar
1203 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

Note: For nice discounts on my online tuition and signals packages today. Message me here on Trading view or email me with the email address on my profile page for details.

Thank you.
To join my signals group, or receive training from a former city trader: T.killick182@gmail.com

Youtube: https://www.youtube.com/channel/UCrKe1mbrc5cAj1BuuQNoyrA
Instagram: https://www.instagram.com/tomprotrader/?hl=en
no way. Not down there.
Reply
Tom_Killick PRO JorgeAbascal
Are you an oracle?
Reply
JorgeAbascal Tom_Killick
are you?
Reply
Tom_Killick PRO JorgeAbascal
No. Unlike your stated comment, I claim not to definitively know the direction of this like you do. Oracles don't make good traders.
Reply
Tom_Killick PRO JorgeAbascal
For your reading pleasure by the way.

"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. "
Reply
JorgeAbascal Tom_Killick
My new theory


The botom red line is the historical floor. It comes before the bubble, and the bubble before. I would be surprised if the price goes where you pointed. I was so categorical because for me is like saying price will go to -3 which is impossible. I think the price is being squeezed up to your sideway resistance and it will surpase it. Cheers.
Reply
stoomilatuti confirmed
Reply
The thing you need to take into consideration is , bro. The Sep - Nov rally last year has a lot to do with Chinese MMM ponzi scheme. Its not natural market behavior
Reply
So if it's not natural market behavior. Using your super philosophy, we should expect a correction into the mean correct? Which, I believe is down.
Reply
Alekznder Tom_Killick
The delerious r/bitcoiners will be sure to comment without any technical reasons or intelligent observations. Keep up the good work. Cheers.
Reply
there is no technical or fundamental reason it should go sub 200. a year long accumulation, great bottom structure, triple top breakout thrust up and threwback to support, block halving is in less than 6months, wykoff model on the larger time frames is not done.
+2 Reply
great, more bears got rekt.
http://prntscr.com/9n26xw
Reply
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.
+4 Reply
M4B0X. Tom_Killick
True that. I'm not laughing, just posting the info.
Tried to short for days but price action was too bullish so gived up and switched to long side.
Reply
This was the right call...the legs down seemed like shakeouts by the market makers.
Reply
Calling for $120 just shows complete lack of understanding of fundamentals of bitcoin ... I'm surprised this chart even received 5 likes.
Reply
I never called $120. I just showed a potential pattern :-)
Reply
flibbr PRO Tom_Killick
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.
Reply
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.
Reply
Tom_Killick PRO Tom_Killick
"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.
Reply
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.
Reply
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
Reply
IvanLabrie PRO cryptopicasso
Yep, this.
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
France
Italia
Polska
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out