Another big Crash for Bitcoin. target 7K/8K or lower, Big H&S
For the ones who have been followoing me, know i was talking about 2 H&S patterns, the one that was already completed around 12,500. But i saw another one forming, a much bigger one. The right shoulder seems to have been completed already, the market is much weaker than i though. I thought 15K/16? would be reached in 2/3 days. It only had positive momentem for 1 day.
If it drops below the 11K again, i expect very low prices short term! Nothing will surprise me, from 3K up to 8K. With the future markets in play, expect much more scenarios that are least expected.
If it drops below the 11K again, i expect very low prices short term! Nothing will surprise me, from 3K up to 8K. With the future markets in play, expect much more scenarios that are least expected.
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The red options is what has happened so far, my first short positions are already in, building up untill 16.000. So far my previous analyses, where i talked about a rise the coming 2 days got extended a little bit, let see if the makret has forgotten all the uncertainties of last week.
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I am fully loaded, 3 times my normal amount with most added at 15.650 and 15.850. I have my stop at 16.650 and 17.250. So far it has done almost what i predicted 4 days ago, nothing has changed, funadamentally it has even worse than a week ago, so no reason to change the strategy now!
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One last small wave up to 16.200 is still possible, IF it happens, i will add even more around that point.
One last small wave up to 16.200 is still possible, IF it happens, i will add even more around that point.
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Lets see if 15.600 will hold
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This bullish flag suggests 16.500/17.000, but i don't think it has the sthrenght and conviction it had a few weeks ago. If it won't get above 16K, that would be a very weak sign, and 80% chance we will see a fast drop back to the 14K levels.
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I have not been following it much during Christmas, but i think BTC price on Bitstamp is lower than at Bitfinex, for the first time since the big drop last week. I cant really put a theory on it right now
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It tried to break out the red resistance area, but it got thrown bak in again! Normally that's a weak signal. But if it stays above 15.700/15.600 the coming hours, than expect a new (and probably succesful) attempt!I will probably adjust my stops than
These 2 options are possible for the next 2 days. A rise above 17.500 means the bearish sentiment will be over!