Fake breakdown shakeout - during consolidation

Fake breakdown - during consolidation - if it drops to 11323 ( the next resistance down )
we can buy in and move back up higher

Comment:

Depending on your exchange it will be around 11328 ( bitfinex)

Comment:

Patience is key here . Wait for the next candle to move it closer to the support line .
This is a fake newbie trader shakeout

Comment:

it should fake an upward move that its going back up then drop again .
Its the support line at 11323 support that we want .
This is also a "3 candle inside down move"

www.investopedia.com...ee-inside-updown.asp

Comment:

that was the fake move upwards - now it should move again closer to the 11323 support

Comment:

This move is being played using the 45 min candle -

Comment:

we should see it break past 11323 on its way down , There is a sop at 11234 which is where m sure it will bounce. If not and we are lucky it will move to 10910 then bounce,

Comment:

We also have the dual spinning tops and the doji on the 45 , hinting at a break down or break up .

Comment:

BTC tends to hang around the area its going to break and I do believe BTC will break 12k . BTC Should then go up for a bit then and then drop back down under 12k later today or tomorrow till Friday and then move higher .

Comment:

I may be wring here as BTC is being tricky , but I suspect BTC is doing a fake beak up , so it can break down and then break back up to 12k

Comment:

I may be wrong here as BTC is being tricky , but I suspect BTC is doing a fake beak up , so it can break down and then break back up to 12k

Comment:

Im expecting a dip to the resistance point - at least 11323

Comment:

dropping down nicely,,

Comment:

looking like a breakup

Comment:

This probably will not make much sense unless you are familiar with TD mark counters.
But the daily candle will hit a 9 in 1 hour
The 4 hour will hit a 9 in 6 hours
And the 12 hour candle will hit a 9 in 1 hour,
A 9 in a TD mark counter indicates a possible 1 to 4 candle countdown,

****- Note: ****
=========
Im not saying this is what is going to happen. For all I know BTC may just hop and skip its way to 17000 and we all live happily ever after .
What im saying is based off the TD mark counters there is a strong possibility that BTC will drop much lower for between 1 to 4 days ( and this action will begin in 7 - 27 hours time)

Comment:

I still think BTC is going to touch 11328 today before going to 12k .

Comment:

There it goes ...took long enough to drop

Comment:

That hit was the from the 4 hour candle .

Comment:

may be another smaller dip in about a minute or so

Comment:

Im hoping we can get to 11231 as there should be another dip in about 10 minutes or so

Comment:

That explains the "triple doji showdown" on the candles . I was wondering why they were quiet and not creating havoc

Comment:

enter if over 11298

Comment:

11326 is even better for confirmation to go long .

Comment:

11326 also avoids the bull traps

Comment:

The MACD on that graph is not looking to healthy

Comment:

The 4 hour candle is doing the big dumps , it has another candle coming up in 1 hour.

Comment:

Trend change coming up

Comment:

its a big dump

Comment:

This might be it - we have a trend change signal

Comment:

confirmation - pass 11297
then safe to enter

Comment:

Double bottom and trend change on the 45 min candle . This may be a reversal but as always wait for confirmation.

Comment:

Double bottom and trend change on the 45 min candle .
its looking like this is it - wait for confirmation

Comment:

The only thing that bothers me is what will the 4 hour candle do when it drops that next candle in 30 mins .

Comment:

The 4 hour candle came and is well behaved - I may just enter at 11297 if this keeps up

Comment:

112967 is being passed .

Comment:

Im entering here

Comment:

i trust the trend-change doji and the resistance break

Comment:

But better to play safe and await 11326

Trade closed manually