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bags467
Jun 10, 2018 1:31 AM

Brutal Dump on Bitcoin, Weekly Candle Need to Close Above 55-MA! 

Bitcoin / DollarBitfinex

Description

Hi guys!
This is great morning (i am living in Indonesia btw so this is 8 am) for a big move!
Great if you always set your stop loss before you sleep hahaha.
Luckily my btc and another alt only loss about 1% since i put the stop nearly bottom line of the channel.

As i told last week, we have semi support on 55-MA weekly timeframe.
This support located at 7305 USD (i will add the pict later).
Another support still located at 6,9-7k.
But, i don't see that 6,9-7k support will hold "IF" the weekly candle close below the 7305, and maybe we will straight to the 6,5k support.
So, i hope this weekly candle still close above 7305.

I don't really have strategy for btc right now because there is no pattern forms except bearflag.
My only strategy is wait this weekly candle to close before buying again.
I don't want to catch the knife!
Be safe guys!

Comment

55-MA on weekly

Comment

As i said above
.
.
.
.
we will straight to 6,5k
:)

Comments
CyberFreedom
I like it brutal, at least it doesn't take a week before we see a bottom.
bags467
@CyberFreedom, yeah, this week is boring before the dump.
Jeff_Cryptopop
So exactly what time does the weekly candle close? 12:01am GMT on Monday?
bags467
@Jeff_Cryptopop, 24.00 per utc
bags467
@bags467, sunday*
Jeff_Cryptopop
@bags467, Thanks. I'll have my eyes peeled. :)
bags467
@Jeff_Cryptopop, actually, better to use stoploss than watching it all the time haha :D
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