bitcoin

Short Term Bearish Target Take 2

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Market is always tricky, those who follow me knows I used to have views on both sides of the "coin", in this manner some of my chart could eventually spike some other ideas on both you that are bearish or you bullish . Currently I am trying to improve my last, non standand, not on textbooks, fusion fibs where two or three fib tools work together, be it time fib, circle fib and plain fib.

Market did it's return to MA50 thing already as expected on my previous charts. After breaking above the circle fib I can see it only go upwards for the time of writing this: It may go straight to intermediate target on my other idea named "Positive scenario for mid-term take 2" around 13-14k or go a little bit sideways, little bit bearish , for consolidation, which means it should test the circle fib again from the upside, taking more time before resuming bullish and this is the core of this idea.

Target on green flag as always.

Obs .: This idea does not mean I am bearish or shorting the market.

Hope you guys show some support with likes, comments and sharing with your friends
Comment: Market still heading to Fib 1.0 (~9.8k) where this idea can start to kick in or just get invalidated in favor of positive one where more higher levels, ~13.9k, are expected due to halving:

Comment: Hey guys, my original retracement fib was not the best, I fixed it on the chart just above this comment pointing to ~10k but I made a mistake on my comment just above this one where I place the new chart but still pointed the 1.0 as being 9.8k instead of ~10k. Anyway this idea is still valid for Jun 1st as well the previous positive idea. So I put both targets for those of you bullish and for bearish ones. Market is very very tricky running mostly sideways:

Comment: 7.6k target sill valid with good probability
Order cancelled: Target also failed, idea invalidated

Comments

Is it short time yet?!
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bitcoin TradingOn
@TradingOn, It can go either way, there is a bull target on 10.3k 17h from now, it is up to you to short now or wait 17 hrs, whatever you thing might be a good risk management. Keep in mind there is another idea where things can go higher than this.
+1 Reply
TradingOn bitcoin
@bitcoin, thanks for your answer, I will try a short with small amount then!
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