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MoonTrader
Jan 25, 2015 3:19 AM

Target hit - looking for pullback Short

Bitcoin / DollarBitfinex

Description

After nailing a 17% trade, the market appears to be overbought and hitting strong resistance. The volume says we won't break it this time, so I'm expecting a pullback to the breakout zone before making a trend decision.

This isn't a concrete trade strategy yet, just a hunch. Look for possible topping patterns to confirm. We may reach slightly higher, but I don't expect to break $275.

Comments
YongHwang
Your analysis is very accurate, thank you for sharing
ChartArt
Don't short until has hit 1600 CNY. China presses the US trader upwards.
ChartArt
Don't short until CHINA has hit 1600 CNY.
MoonTrader
Yep. Like I said, we could go a little higher, but this is where I'll be looking for topping patterns.
Tdot
Could you talk about those topping patterns are your strategy around those in your future ideas?
MoonTrader
Sure. When one comes up, I'll make another chart.
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