Callmepope
Short

BTCUSD Embrace yourself

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
You can see BTC has broken the giant triangle on log chart. If we cannt see a strong bounce today, we may see a catastrophic drop coming.

By the way I have been 20x shorting it since it broke the symmetric triangle yesterday. My opinion might have been biased by my position.
Mar 29
Comment: It hasn't broken the triangle on the normal chart. But personally I think log chart is more indicative for a larger time scale. Good luck!
Mar 29
Comment: I have bought 20% of my spot coins holding around 6700.
Mar 29
Comment:
Mar 30
Comment: It will likely break the new low 6614 to trigger panic selling. But I think the local bottom which will bring us back to 8k+ is very close.
Mar 30
Comment: I am laddering buys between 6200 to 6600. Since I am still holding my short position, I do not have much risk buying now. I think the bottom is very close and any buy right now will bring good profits in the following days.
Mar 30
Comment:
agree, double bottom, or more down..,

best whishes, Sascha

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any more questions?
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Hello, agree with you, here my idea from last week, still in predicted trend.

Best whishes,

Sascha

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Lilalisa Lilalisa
Wow, Price exactly hit my predicted resistance Point. Now retest neckline, than......
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Your support line isn't correct, it's lower than you've placed it.
For today we can go as low as 7350 without a problem.
+1 Reply
@Memnon, I used Mar. 25th low $888 and the recent low $7240 on log chart to make my trendline. You may have different conclusion using different method. Thanks for the comment!
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Memnon Callmepope
@Callmepope, yeah my lines go back to march 2017
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@Memnon, It hasn't broken the triangle in normal chart. But it is very close to that. Good luck trading!
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