Xzhi
Short

Bitcoin (BTC) Be careful about buying the dip. Weird PA today.

COINBASE:BTCUSD   Bitcoin / U.S. Dollar
Bitcoin has dumped down as I called for. Everyone seems to be buying the dip right now. The last thing you want to do is join them.

For this to be the bottom, we should have liquidations. So far there has ONLY BEEN ONE liquidation of 120k USD. That is not enough. And currently as of right now everyone on Bitmex is longing Bitcoin/Ethereum.

Looks like another drop is very likely.

This one is short as I am very busy right now. I basically give out free ideas and usually I spend more than 30 min doing analysis. Just know that this one is probably not as reliable. If you wish to long, at most do a small amount. Don't overextend.

Thanks for viewing! I believe we will bounce and/or hold here, but expect another drop.

Also, I don't believe the bull run is here. Don't listen to the people calling for the bull run. You can make a lot of money catching 80% of the new trend if we do get a bull market. For now still expecting sub 6k or at least a test below lower low.
Comment: This seemed to just be a failed Bart down.
Comment: This worked out. Still bearish so far but more neutral now. We should either hold here or move up.
Comment: Doesn't make sense to just leave comments. Chart communicates message much better

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