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kcabral
Jan 12, 2018 6:19 PM

BTC - Bear trap, a slight retrace, then flash crash to 10k Short

Bitcoin / U.S. dollarBitstamp

Description

I had a look at similar chart patterns at different scales, including gold during it's peak last decade. This pattern resembles gold where in this overall move, it will dive quickly below yesterdays support, trap some bulls. Then it will bounce half way from it's move in the last few hours and then flash crash into the 10,000's.

Comment

I was a few days early in the flash crash call but not bad. We're getting close to support. Then we'll see what happens after that.
Comments
tannoniem
That's called a bull trap, not a bear trap.
oyoz
Nice work!
Zakir-Ahmed
if crash happens it can go upto 8k..becoz from 8k is where all the drama started...
kcabral
@ghose12, good point. I saw that as well. I think it'll hit 10k, then bounce to 12k+ then down to 8k. Then we'll see from there.
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