kumarz

08apr2015_BTC:not v bullish med-term anymore:expectin 5thwavedwn

BITFINEX:BTCUSD   Bitcoin / Dollar
83 0 0
I feel we didn't manage to make a clear break of the downward trendline on the Daily chart , and have just had wave 3 of a downward move that will probly take us to 235 or lower. Anyway, the crash from 254 to 243 is deffoz a wave 3(and not C of a correction), so we need a bit of consolidation before wave 5. Closed most of my shorts(closing rest as we go) and am in BTC for now, looking to lend some of it for 2-3days, then start selling some in anticipation of wave 5 down.

Not aiming to go ( futures )long here as the consolidation if it does indeed occur, probly
a. ain't going to be long, or
b. will be too choppy to profitably trade.

Had a very pleasant experience with the 796 inverse futures: perfect for short positions ... go short, and your USD(really CNY             ) position remains the same so u don't need to add much to keep the position fiat-static, and if the trade goes sour, you need less BTC to post (maint.)margin: result!
The inverse futures are not 50x though, only 20x :-( Oh and support sux(chi dictionary in hand!)
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