We Consolidate since 1 month and it looks like the BTC sideways are ending. Segwit is on the way and whatever will be the outcome, it doesn't seem that the issue will be resolved without serious trouble on the way. For me the market is ready for a GLOBAL bearish correction, and a serious BTC price fall should sign the fact that we really engaged into it.
If you look at the (busy and messy) chart, you'll see that the triangle drawned over the 3000-2000 consolidation area has failed breaking upwards at the 2650-2700 (a previous recent ATH) level. We are right now sitting at 2250 level, bottom of the fakeout zone created by the previously cited failed breakout (see WidespreadBTC Tweet : twitter.com/WidespreadBTC/status/884559428225298432) and the 1D Kijun supposed to sustain the middle-term price rise (See @CarpeNoctom tweet : twitter.com/CarpeNoctom/status/885341769344454656) has been crossed down. Looking at this "On the edge" situation in a bearish way, you can see that we had bearish kumo break/Bearish kijun cross on this 6H timeframe chart, and that a perfect Kijun touch and bounce confirmed the relevance of drawing and reading a doubled ichimoku cloud here.
The 2250 Horizontal level is now for me the break out and confirmation level. Let's see how it goes. A bearish Kumo break out (wait for kumo twist) on the 12H ichi chart and a Edge to edge trade on the 1D ichi chart (wait for bearish TK cross) are also good setups to look at.
Disclosure : I am almost fully hedge against a market fall, no short position at the moment.
P.S. : Cristics and questions are VERY welcome, particularly on fibos and cloud methodology.
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2250 passed, still waiting
Trade closed: target reached
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Bought back 25 % at 1850. 2200 seem a reasonable target up.
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Close to reshort entry Area, Stops @ 2250 +
Trade active
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Shorted 2200, lets wait now,
Trade closed: stop reached
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stopped out at 2300, waiting now 2400 area for a reversal.
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but how the fuck it is possible !? anyway, I am short, long overall as per the new of yesterday.
Good trade, and stay safe !!
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Still in CASH despite the price being back around 3000 USD for days. Waiting for a fall under 2300 and under 2000 to enter back in coins. Starting to enter yet on altcoins, care about counter correlation from now.
Case I'd be completly wrong, wait for an hard confirmation above 3000 USD to enter back. Good trade !