GreaterNinja
Short

Started From The Top and now I'm Bear

COINBASE:BTCUSD   Bitcoin / U.S. Dollar
Conversely Drake's song "started from the bottom".

target for taking profit $5400-$5500
Target area is right before 200 ema as most BTC people are very bullish . I suspect a bounce before or on 200 ema for 4 hour.

-rising wedge
-BTC/USD has been buckling for weeks.
-Volume is dropping off as well.
-4hr stoch rsi (94.8,94.789), suggesting overbought on 4 hour and medium pullback within a few candles.
-With Devcon 3 for Ethereum , I suspect ETH/BTC will pump and perhaps ETH/USD will have a 50-200 bullish cross on 4 hour.
-my proprietary tool says we are buckling.
-Also if you look at Dian Kemala's btc/usd idea...the 3 drives idea suggests correction is very likely if we cannot break above ~6482 https://www.tradingview.com/chart/BTCUSD... This woman seems almost godlike with her ideas.
-Lastly even with btc at this price, we have barely touched new total market cap ATH of around ~182.6B from Pre-China ICO bans. I think today we hit 183B.

From here we see if btc/usd breaks resistance or breaks down.
Stop Limit ~ 6500.
If this target hits we see if it bounces to $6800 or falls more.
Comment: Dian's other idea from today:
Comment: her bearish 3 drives pattern, that has been quite precise.
Comment: Ethereum Devcon 3 (november 1st to November 4th). The chart's I've seen and this fundamental event says capital can exit crypto market or goto ethereum and other alt coins. Here is ethereum's devcon 3 agenda. https://ethereumfoundation.org/devcon3/a... I would say this has a medium-high likelihood of occurring.
Trade closed: stop reached
Comment: I made a mistake in this idea. I did not draw the bullish trendline. The 4 hour candle has just bounced off of it. Oh well, live and learn. This trade is closed.
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Charting Solutions Get Help Feature Request Blog & News FAQ Wiki Twitter
Profile Profile Settings Account and Billing TradingView Coins My Support Tickets Get Help Ideas Published Followers Following Private Messages Chat Sign Out