Shorted the technical break of $800 to see if the BitInstant CEO arrest news catalyst can lead to a "true panic". The $765 level has been holding BTC up, but this could really sell off if we snap with volume.
However, I will be quick to cut off this trade if we don't get immediate follow-through. I have very little patience to the downside after waiting so long to take profits on my last short.
Comments
aleksandar.todorov.543
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hello Chris. I like your videos, I watched all of them in youtube and I followed here. I am trading mainly with alt coins since 13th devember 2013 and I am newbie in technical analysis. I need your pro opinion about something that I made today. It is all about this graph - tradingview.com/e/sxZJXurz/ Do you think that I pointed right support and resistance levels? Do you think I am right about that horizintal triangle corrective wave and the drop after E is because of the type of the chart not because of some random drop? Thank you in advance!
chrisdunntv
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ya man, that looks great.
snow
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That was perfect , what is the next target ?
forex__H
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good
StealthTrader
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Great Work
chrisdunntv
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thanks
Parenzo_coiner
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great call,spot on,to bad I missed it
chrisdunntv
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thanks, ya it was a very fast trade
Fabz89
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This news is more irrelevant than the Silk Road one. I can't believe it can trigger a "true" panic sell.
chrisdunntv
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I think it was a combination of a "heavy" or weak looking technical chart with people just looking for a reason to sell. As you can see, the price has kind of recovered after the breakdown to my target.