Greenhill
Short

Critical BTC Level! Resistance here held before! Breakout or not

BITFINEX:BTCUSD   Bitcoin / Dollar
2189 19 50
4 months ago
The Big move up today was very Fast, the current level has been Resistance before as the red arrows down show.

i have opened a short with a slightly bigger stop..

if the Green upper line breaks! expect a longer breakout target of 730!

if we break down as i hope with my short target to take profits below 655.
4 months ago
Trade active: have kept this short open. 4500 support has slowly turned Resistance.

i am expecting to go lower, will take drip profits starting at 655 down to 630.

i
4 months ago
Trade closed: target reached: Had a trailing stop hit over night.

70% of position closed between 640-645 with order in the book. 640 was the major support level as indicated by the target box. we reached the very bottom of the target.

the remaining 30% closed on a trailing stop today at 653 levels.

An excellent Trade, Really enjoyed, had to be patient but massaged the short all the way down buying the tops, selling the dips. we started with a 685 base, ended up to 700+ base before we profit taking started.

currently price is sitting at 660 level, will wait to see the 2H-4H to take a new position, if we have a Breakout with good volume up will long it . if 660 holds over night that will be also a signal to long.

Currently Shorting ETH only position open please check that chart & comment.
rhb_3000
4 months ago
Good points ! I was looking for a short too .. We will see .. Thanks
Reply
compago PRO
4 months ago
Thanks for posting but respectfully, this green and blue channel(s) aren't what's actually happening, it looks more like what you want to happen. There is a classic pennant triangle upwards, http://www.marketwatch.com/story/why-bitcoin-is-on-the-verge-of-a-breakout-in-one-chart-2016-07-11
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Greenhill compago
4 months ago
Respectfully dont spam my charts again... Ever..
Reply
compago PRO Greenhill
4 months ago
Not spam.. it's a comment. Sometimes people will disagree with yours and my opinions. You'll notice how I was polite.
Reply
Greenhill compago
4 months ago
that article you posted has nothing to do with my chart & trade which makes it spam.

my trade is a short on a small timeframe in the 650-685 range.

that chart & article is looking for 775 to hold for breakout up to a much higher level. we are

its dealing with much bigger timeframe. its not relevant to this chart or trade in anyway.

Reply
Greenhill
4 months ago
I have not taken any profits yet. we have broken some key support levels..

Most importantly 4500 is struggling to hold. its now slowly forming into resistance, been tested 3-4 times, if it does go up & hold above 4500 in the next 6-12 hours we are going lower..

4440 is the next support level to be tested.. if we bounce there & it holds long enough i will take profits.
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Greenhill
4 months ago
This arrow pointing in the direction of the target is a bit sick, price glued to it over 2 days!!!
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EdCa
4 months ago
Shorts expiration in one hour for OKcoin. Might cause a pump
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veryevilone PRO
4 months ago
looks like price started to go sideways. maybe its time to close?
Reply
Greenhill veryevilone
4 months ago
i see a pattern thats why its still open, we are taking steps down at different support levels, its goes down sits on support, goes up a little then goes down to next support level.. 666 now 660 sitting on longterm support line if this breaks expecting a bigger dip so risk Vs reward here is indicating to keep it open, if we go back to 4450-4500 & they both hold i will close it..
if 4400/660 breaks we are going to test 650.
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WayneSwart
4 months ago
Well played!
Reply
Greenhill WayneSwart
4 months ago
thank you yeah went well
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m_murfy
4 months ago
I think this could test support at $610. Are your shorts still open?
Reply
Greenhill m_murfy
4 months ago
Yeah short still open, have taken some profits at 640-639, base now over 700. its in good shape. next support level down 4270. will be looking to close & if it breaks up will take profits at 4400
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godandrock
4 months ago
very good man! excellent work!
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Galvin
4 months ago
This going to bounce? The price is on the daily triangle, and daily rsi trendline.
 
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Galvin Galvin
4 months ago
https://www.tradingview.com/chart/vWfXCqkF/

Chat snapshot didn't work for some reason.
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btc_joe
4 months ago
Greenhill for president!
Reply
Greenhill btc_joe
4 months ago
hahah :-) i make BTC the number 1 currency in the world ... Vote Green ..
+1 Reply
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