mantasg
Short

Bitcoin daily trend is down, more downside expected in future

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Bitcoin started downtrend after flush of 12730$ mark, this level for now on daily chart are key level for upside while price trading below it I want to short bitcoin on pullbacks.
Comment: Looks like finally pullback ended and we have a chance to resume downtrend targeting fresh daily lows, tomorrow is opportunity to jump in with a trend to pinpoint entry better use something like 1h trend who already made lower low and once we see strength to upside short it with protective stop above today's daily candle high
Comment: 1h chart
Comment: After some time happens what have to happen based on daily trend expecting fresh lows or at least double bottom for now but in overal I would not buy btc and and recomending for anyone unless you are ready for a drop to 3000$ and its for you means noting
3k is areasonable target. I agree.
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Your weekly H/L blue line at the bottom of the chart fails me. -_-
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mantasg ymjun35
@ymjun35, its a weekly swing low if btc dips below it I will buy for now just waiting for at least one higher high
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mantasg ymjun35
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mantasg ymjun35
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I would be sceptical of going short here, unless you are looking for a quick trade. Look at the weekly candle. Depends where it closes tomorrow but if it holds at current levels we'll see a bullish doji forming.
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mantasg AgentSmith
@AgentSmith, thanks for comment I dont trade candlestick and very offten I go against doji pinbars enguilfings if price action shows it. All trends hows down move 4h 1h daily tf but yes weekly is still up so we will see maybe buy setup somthere develops who knows where money goes and while money on downside I go with it .
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AgentSmith mantasg
@mantasg, Cool, what is your price target?
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mantasg AgentSmith
@AgentSmith, Basically I exit trades when market shows opposite trends or when we make lower low so if I short now I would aim at least fresh daily lows and then will in small parts will start exiting trade if below fresh daily lows for example 15 min 1h swings starts showing uptrend or if we dont reach those fresh daily lows I exit all trades and then will trade buy setups.
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mantasg AgentSmith
@AgentSmith, How I see it on diffrent time frames 4h tf
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