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DrJLT
May 13, 2018 1:53 PM

BTC guess for the next two weeks Short

BITFINEX:BTCUSD1D
Bitcoin / DollarBitfinex

Description

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As charted, double top

Don't think .618 retracement will be reached at either stops

Comment

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fak, crashed earlier than I thought. Need to wait for a possible bounce and/or breakdown of 50D MA to enter a short position

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one possible play if we don't breakdown

(after E, crash)

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good pump, possibly will go above 8750

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Market is always somewhat unpredictable.

Thought last night after 8850 would go down, but didn't. I guess they really want to tap some bulls drop into this

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almost looks like bull market again

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was this a buy or sell?

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will we close below 50D MA?

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bitcoin failed to close below 50D



may have some bullish attempts; seems like the market is not decidedly bearish

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not comfortable with shorting now, even though it looks like it's going to drop immediately

I have a strange feeling that a real bull trap is in play:

close below 50D
fomo short (fishes)
pump to resistance
crazy short (whales)

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Indeed closed below 50d. Could bull trap soon
Trend AnalysisTechnical IndicatorsChart Patterns
Comments
julia17
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nice megaphone for break down, just see final target higher - 7840 and then bounce to 9150 possible.
fastjumpers
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BTC may suffer a dump after Consensus ?. In 2017 it was a 32% dump, three days after event. Check 2017/may the chart ...
DrJLT
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@fastjumpers, makes sense. was wondering why it's not dumping (chart says it could've dumped already). probably because a lot of buyers are speculating on consensus
fastjumpers
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@DrJLT, Exactly, a lot of FOMO content being posted these days.
darkandblue
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I thin kyou have way too little corrections considering the path you put down
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