Targets reached, now it's ready to drop big again to 9K lows

So the 13K has been seen, there is a chance now, that the top has been set! 13.200 is also stil, what i mentioned yesterday, to form a H&S. It is hanging around the highs, that is a strong sign. I would have rather seen a maximum price of 12.800. It has made a tripple top at the 13.000 level, untill now it is still forming a bullish upwards triangle, that could also bring us to 13.500, but for now, i expect a top form around these levels, to make a new big drop back to the 9K lows and maybe even lower. I have started to open shorts from 12.600 12.700 yesterday and have added every 100 points higher, also at 13.000. I will continue to add up to 13.200. I will have a big short position, but divided at all those prices, BTC has surprised me to many times to have a position that's to big. Money managment is to important to stay truly focused on the trades and not on the money!

Comment:

We could see a small bounce up from here

Comment:

No buying here, or the rescue squad has to come in now, or it will slowely drop more

Comment:

It even reached the neckline faster than i though! This is the H&S i was talking about yesterday

Comment:

For my H&S theory, we should see a small bounce at these levels, to make the right shoulder

Comment:

It should turn around downwards from around here

Comment:

So far exactly as planned, now it should accelerate downwards. There is always a chance it will bounce up hard from the neckline making it a failed H&S

Comment:

Rescue squad is in the house again, lets see if they can hold it

Comment:

There is no real buying, but there are many big bids in the book, much more than usual. Lets see what will happen

Comment:

They are having difficulties supporting it, the bids when't up from 50, to 100 and now even more than 300 BTC

Comment:

And the neckline is broken, it should accelerate down now

Comment:

It should stay under the neackline at 12.300 now
Next target around 11.700

Comment:

It has been a wonderfull day of trading again, it's just to easy sometimes. I hope some of you also made some good trades. This has been another H&S wich i predicted, even before the left shoulder was completed. I do have to say, the one on the 17.200 high on 7 december 2017, is still the best one with a 3K drop within 4 hours :)

It is looking very weak now, after all the efforts of a few (the support bidding what i mentioned several times yesterday) of holding the 12.400 to 12.200 levels, it still made a big drop!. Even the 11.600/11.800 only gave a temporarily support.
For the short term bearish scenario, it should idealy stay below the 11.800. 12.300 is really the max for the bearish momentum to stay strong. As you know i have opened a big short position wich i started to open from the 12.600 and added up untill the 13.000. I have been trading allot in the mean time, because that's what i do, but for the 'longer' term (days/week), i have lowered my stop to around the 12.300 to guarantee a nice profit. My target is still the aorund the previous low at 9K and probably even lower. This was my plan from the moment i almost perfectly nailed the bottom at 9.400 and turned long there. I would wait for the 12.500ish levels to go short again at higher prices for the next big wave down! So far this longer term plan has worked out perfectly and i will stay with it.
I will however adjust my stop ofcourse and i will adjust my view, only when i will see new signals that tell me to do so. BTC can always be very surprising.

The one thing i am surprised of the most, the small amount of likes i got. I have some new followers the last few days, but it's still really disappointing when you look at the fact that i pointed out the bottom around 9.400 and predicting the top now around 13.000. That's why i have not been giving any updates today.

So, followers for the ones who appreciate my charts and analysis and the many updates and even more the time and effort i put into them. I suggest you give some back :) I am not talking about money, just try to increase my views. One follower suggested i should use twitter, maybe i will do so in the future, but i just don't have the time to look into it for now. Maybe for now someone can do it FOR me instead :).

Comment:

For now it think it wil find some support around the 11.200, make another, maybe last small upswing towards 12.500/12.700, than it could go drop below the 11K!

Comment:

There it is, the upswing :), just to easy sometimes!
I opened a new chart/idea again