Don't over-complicate things. Somethings everything happens exactly as it looks like. This is a classic head and shoulders pattern and whether this was meant to happen or not, a lot of people now have it in their mind that this is a perfect head and shoulders and the price is going to take a serious gutting. In premature markets like the cryptocurrency market, feelings and thinking of the community matter a lot. As Don Corelone puts it, "Try to think as the people around you think." Segwit2x attractive, yes, free coin yes, but then there's this going on and it seems to have been purposefully accelerated by bad news from South Korea and other negative press (Google it). So, it is happening and it would appear that the market makers want to make it happen. Our charts tell us the same story. So, two things you can do here. You can wait for confirmation of a panic rollercoaster when everybody loses their sh*t and you can turn this to your advantage by opening a short/sell position. If you are not the adventurous type, you can wait till the price hits the bottom and then buy everything at a discount. Personally, I'm not looking forward to significant stakes in Bitcoin but I will use the opportunity to buy a lot of my favorite altcoins at a mega discount! So, happy trading, stay safe and if my ideas/posts help you, then like 'em and follow me for more. Thank you :)
Comment:
When the sh*storm approaches, the wise guy says I'm going to get out now and make a plan whether to buy low from the bottom or short now or maybe do both. The fool says, that's alright, no problem, I'll hold and when it hits the bottom I'll buy more. (Sure, like you're sitting on a goldmine there). So, when it goes down, he keeps saying to others, "It's alright I'll hold and buy more at the bottom" but deep down he knows he f*cked up big time. When it bottoms out, he doesn't have anything to invest in to buy more as he's already dug way the f*ck in and bleeding red. So, he waits till it recovers and b*tch and moan about it for days on Reddit and whatnot waiting for it to recover. Keep it simple: Make a plan! Thank you :)
Trade active:
Shorting it all the way down.
Comment:
Rebound to $15k levels for shoulder formation and then straight down to $8k levels. Ride it up then ride it down. Perfect!
Comment:
Strong sell volume building up. Rebound might not happen all the way to $15k levels. I'm not buying the bounce, not to my risk appetite. I'll short it when I see the bearish momentum and I'll pick it up at the bottom. Not getting involved now.
Trade closed: target reached
Comment:
Starting to move up now.