BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Everyone goes crazy when they see large movements, however lets not be too hasty and make irrational decisions.

# Strategy
If going SHORT wait for the consolidation and the breakout.
Same goes for a LONG position, although I am not too optimistic going LONG due to the fact BTC is super over priced and the massive upwards channel (blue lines) is signaling we are close (if not already!) to the top.

# Risk Management
Place stops above or below the consolidation.

# Targets << will update this once the structure has formed
Roll to break even at 1.27 extension
Take profit at 1.618 extension

Take care and thank you for reading.
When BTC reach 3000 say it again. Don't panice Be patient. works
Your lines are in the wrong direction, you really think the trend is now up?
Hi @bmgbmg, i think your computer screen is upside down : P, appreciate your feedback

The trend? I have not mentioned anything of the sort my friend. The structure is an upwards channel.
bmgbmg KrytenRoss
@KrytenRoss, just meant from $4892 of couse it's channeled up. I've been short since then and will continue to be. Thanks for the TA
+1 Reply
bmgbmg bmgbmg
@bmgbmg, sorry $4972 high, cant see straight today
@bmgbmg, no problem, cheers!
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