meszaros

BTCUSD I hold a short position.

Short
BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
BTCUSD I hold a short position. My current post is a continuation of my previous analysis. In that analysis I explained why I closed the long position. I also explained why my trading direction changed in the longer term. I would like to note that I was and am always very optimistic about crypto currencies. Therefore, as always, I expect a further sustained rise after a significant fall. I still expect the current decline to be around $10,000. This could be fulfilled in the event of a further fractal move in bitcoin . The current chart shows that the white D1ATR axis(which coincides with the axes that can be broken by the falling peaks) has once again provided serious resistance to further upward wave sequences. This axis is a critical point in the current move. In the event of a strong move away from the axis and into the area marked by the red square, the sell pressure could strengthen there, accelerating the fall. Otherwise, if it bounces back upwards from the red square boundary, the scenario just outlined should be discarded and a long position taken. Under current circumstances, I will hold my short position and wait patiently.

Comments

does the crazy price action in the last 8 hours change your opinion?
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bimaxim GrouchPotato
@GrouchPotato, also curious :)
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What is your vision today?
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Great analysis! ♥️ Have you changed your analysis or are you still expecting downside from here?
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Good afternoon. would you like to revise your forecast?
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Is this short idea still valid? What will be the stop for this idea?
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Love your ideas but we are never going below that. Cryto is not the same as previous years
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All the best mate. I salute your titanium steel balls
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sorry but am completely disagree with your SHORT position. Coz It has not yet ended the 4-year-cycle and it is highly unlikely that whales let it drop that much when everybody is only accumulating right now-(taken by the news).
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@Alisherbey fully agreed. 4 year cycle theory and also stock to flow model

No right or wrong in anyone’s decision to short or long but remember trend is your friend 🌊
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