DCFreak
Short

BTC - Bitcoin Bearish, time for correction?

COINBASE:BTCUSD   Bitcoin / U.S. Dollar
As mentioned on all of my BTC posts, correction isn't over, and the increase in the price was nothing but a bull trap.

Check my previous ideas if you want more details.

Here are some trend updates:

Ichimoku cloud: Price is under the cloud and its red - Bearish
MACD: Bearish
Coral trend indicator: Bearish on 1HR and 1D scales

Expected Price/ Target: 10k support will be tested, if it fails then 8k support, if it fails then around 5.6k$

I believe 10k and 8k will fail because of the huge volume bitcoin gained these past few days, so when the price corrects by almost 30%+ everybody will start freaking out, and the only way to reverse the downtrend is by a strong support that was tested multiple times which is the 5k support.
The 10k support was just made this month, so I doubt that it can hold.
That said, I could be wrong about everything I said. However, keep these words in mind and be very cautious when trading. If an uptrend is detected I will update this post and let you know.

Be very careful these coming few hours. Keep an eye on all Alts because if bitcoin drops it will take everything down with it .

DCFreak,
Comment: My most bit would be 8000$, 5.6$ would be a dream for a lot of new investors.
Comment: Bitcoin is in a stable range, so alts could have the chance to reach targets.
Comment: All new updates will be posted in this new idea:

Trade closed: target reached
We are almost certainly seeing a correction to atleast 10.7k right? and then see it from there
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Is there any updates?
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Will it drop more? Or just correction happened?
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Thanks dude.. (:
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Looks like the correction is coming?
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Is looks more stable now
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DCFreak pureeme
@pureeme, nope. it could trigger at any time.
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Hey how do I enable that red/green large dot line that shifts and changes colors with the trends what is that called?
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DCFreak GGEuroHEADSHOT
@GGEuroHEADSHOT, coral trend indicator by lazy bear
and its a lagging indicator.
To add the ribbon you have to modify the script and apply it.
+1 Reply
@DCFreak, Thanks!!
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