Grand Bitcoin Weekend Selloff

Bitcoin / U.S. dollarBitstamp

Description

⋅ Dec 17, 2017 1:45 AM

Bitcoin has a weird tendency to sell off during some point during the weekends for whatever reason...

Just hit a 1.236 ratio from the last major move. The last few 4 hr candles appear to be setting up for a quick down move.

It will probably quickly reach support around the 50 SMA and push upwards to the old high

Risky Trade Idea: Short bitcoin to the 50sma ($17,200 area?) with a fairly tight stop and then BTFD to the new high

Trend Analysis Chart Patterns Bitcoin (Cryptocurrency)bitcoinforecast BTCUSD BTCUSDT XBTUSD

Comments

MoonCatz

⋅ Dec 17, 2017 3:34 AM

Shorting BTC right now is the worst think you could do. CME futures are tomorrow and TD Ameritrade on Monday.

grinbuck

⋅ Dec 17, 2017 2:11 AM

Short BTC??? You guys sure??? It's listing on the CME futures exchange tomorrow i.e. Sunday. I have a suspicion this will not be the normal "weekend" you describe in this idea!

mortonpeak

⋅ Dec 17, 2017 2:02 AM

weekends are when things jump off, can't explain. Probably people betting their money after work. Good way to get rich! Right now we're in a slow-mo freefall. Good to go, snatch it up in a bit

UnknownUnicorn1770165

⋅ Dec 17, 2017 1:53 AM

love the idea of shorting btc, that would help alt coins to go long :)

but very risky trade idea...