MoonTrader
Short

Short term squeeze

BITSTAMP:BTCUSD   Bitcoin / Dollar
Looks like the market is about to get squeezed down below the breakout zone. It will probably stop anywhere from $200 to $210 next. We have a large downward channel acting as the top of a descending triangle that will take us to the low $200s. We had a failed H&S that took us to $245 where we were stopped by the lower end of the breakout zone before the big parabolic move.

This is a pretty safe trade with a decent R/R and high probability, although it is not that big. Given that the trend is still down, it is the safest bet right now.

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themerkle PRO
2 years ago
Great analysis, we mentioned it in our recent report on bitcoin's price. http://www.btcfeed.net/speculation/bitcoin-prices-decline-despite-media-coverage/
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Vatis
2 years ago
Well, nothing is safer that waiting for the better opportunity. You can't say that your idea is the safest one ;)
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MoonTrader
2 years ago
UPDATE:

As far as I can tell, this idea failed because of the weekend. Since moves like this was suggesting are supposed to happen on volume and nobody was trading during the weekend, the idea ran out of time to complete. It's best to stick with trades during the week solely for this reason. Ideas can easily be invalidated when there are not enough people watching to make it happen. When nobody's trading, the price will tend to stay at rest, just like an object at rest will tend to stay at rest. That's physics for ya.
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MoonTrader MoonTrader
2 years ago
I should correct myself. It hasn't technically failed yet, but it is taking longer than expected, meaning the probability of the trade happening is now less certain.
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MoonTrader
2 years ago
UPDATE Jan. 31, 2015:

Good short if you got in. Although there was not enough volume to push it through the first time, the idea was never invalidated.
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