PentarhUdi

Bearish outcome of previous ideas

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Amid of global financial panic Bitcoin price aggressively attacks Weekly SMA200 and bottom triangle line of previous chart. I see this might not end as well as i thought. As bearish potential of global markets is huge.

So lets brainstorm whats gonna happen in bearish outcome.
What do we do? We suppose triangle broken downside.
This suggests FLAT correction in historical IV instead of triangle and adds at least extra year to IV to be completed.

So I transformed triangle into downward trend and turned log scale on.

I got bearish target between $1800 and $2500. In this case weekly 200 SMA will be broken and become resistance.
Many time and affords will require to break it up and make it support.
Comment: Brace...
Comment: This should bounce up from weekly sma 200 (~5200) up to daily sma 200 (~8500). Break up of upper trend line invalidates this bearish count. I remind this is hypothetical bearish outcome of previous published ideas.
Comment: In a case of new higher high (higher than 13 Feb 2020 ~ $10500) this bearish scenario will no longer be valid.
Comment: This sword of Damocles still keeps odds. Watch your step.
Trade closed: stop reached: This sword of Damocles is broken. Bearish scenario invalidated.
Comment: Wait a minute...
Comment: Tripple top on daily... Bearish pattern. Will trigger at close below $8000 with a target to $6000.

Comments


what about this sir?
+23 Reply
zamli ripple10usd
@ripple10usd, oh what i wish you are right with this one.
Reply
@zamli, time will tell. i think it is very similar.
+2 Reply
Comment removed.
Comment removed.
shelby3 ripple10usd
@ripple10usd, exactly. I have had that scenario on my blog for months. I can’t post the link because I am not a paid member, but you can find it with Google “steemit @anonymint”.
+1 Reply
shelby3 shelby3
@shelby3, btw I also predicted the pandemic on my blog on December 16. First public news was Dec. 31 out of China. Verify at my public blog.
Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Refer a friend My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out