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Short

Bitcoin to drop lower - but likely slower than before

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
BTC@7.270 right now broke the "second last" supportline. Still trending down above the longterm downtrendline momentum to the downside is fading - compared to prior lows.

Last upsidemomentum was during the G20 Meeting:


But follow by a fervals just days later:


Best case scenario now for hodlers and alt coin BTC would be a new low with lower momentum than seen before. Same time BTC should remain above the downtrendline.




Trade active: BTC @ 7.1k: Supportline broken - fast drop on typical technicla trading.



For hodlers now important that downsidemomentum is fading as soon as possible. Also important is, that BTC will stay above the longterm major downtrendline.
Trade active: BTC @ 6.950: Typical technical selling after major supportlines are broken



UNCH:
For hodlers now important that downsidemomentum is fading as soon as possible. Also important is, that BTC will stay above the longterm major downtrendline.
Trade active: BTC @ 7.150 - downsidemomentum stopped, maybe:

Trade active: BTC @ 6.690: Downsidemomentum continues.

Trade closed: target reached: BTC @ 6.960: 2b bottom reversal possible.

http://www.trading-naked.com/2b-reversal...

BTC montum is fading again - right now. The following trading day on sunday should give us more guidance. Actually it might be better to trade short only on very short time frame. Longer predicitions right now are unable.



Trade closed

opened @ 7.250
closed @ 6.960
-------------------
net gain 290 USD

re entry short @ 6,6k
no position long @ 7.3k

Related Ideas

Sentiment is very very poor. BTC also just entered a freefall zone with no support. I think 5900 minimum.
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SwissView Conchobhair
@Conchobhair, as long as BTC is going down with (extreme) bearish sentiment odds are rising, that Bitcoin is forming a bottom:

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