Tendorian
Short

April 21st Bitcoin Finally this current upmove is over

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Finally after waiting for what seems an eternity, I can safely say that the uptrend is over for now, we will have possibly a few days of downside action. Made a few losses trying to pick the top, but this should be a good one.

Open Short 8850
SL 9000
TP I want really low like 8000

WIll move the SL as price drops
Comment:

Move SL to 8950
Comment:

Move SL to 8850 Breakeven
Comment:

Move SL to 8800
Comment:

SL Hit, small profit, will wait for next opportunity
Comment:

This is actually turning up again possibly to test 9000 again.

Price open 8780
SL 8650

Will move SL as price moves up and wait to get taken out instead of putting a target where it may or may not reach.
Comment:

False alarm, reverse and short 8730, SL 8850
Comment: Small loss

Short again



SL 8950
Target 8500
Comment: If 8950 breaks, means we will be going much higher before the fall. Possibly to 10,000.
Comment:

Yep, I think we are still going up, once 8950 breaks, this will easily shoot up to 9200.

Close Short
Open Long position
SL 9750
Comment: I mean SL 8750
Comment:

Price kept failing at 8950, i am waiting to short, closed my long
Comment:

Short
SL 9050
Target 8500
Comment:

Price missed my SL by $2, lucky perhaps.

Move SL to 8950
Comment:

SL Hit

Waiting for clarification of direction
Comment:

Open Long
SL 8800
Comment:

Closed long
Comment:

Still waiting for more data
Comment:

If we keep going up, 9600 is probably the next resistance to watch.
Comment: Not around to post charts but the downmove has started.
Comment:

Broken back below 9600 with a bit bar, now in the 9200-9600, we may test 9600 again. A break below 9200 probably means the upmove is done.
Comment: big bar
Comment:
Comment: 9000 is very important support
Small risk keeping it open, no?
Reply
Tendorian alansoft
@alansoft, Long or short?
Reply
Tendorian Tendorian
@Tendorian, The bigger risk is being long.
Reply
alansoft Tendorian
@Tendorian, you just closed long. Could have kept with little risk....
Reply
Tendorian alansoft
@alansoft, Being long is quite risky here. I prefer the short. It does look like it wants to break the resistance, but normally it will be just a final pop up kind of move. It may or may not happen. That was why I did not want to risk it. I rather wait for a break of 8800 for a possibly easy drop to 8500 and below.
Reply
alansoft Tendorian
@Tendorian, I think we gonna still go up for a little while..... shorting is not going to be as easy as longing! :)
Reply
Tendorian alansoft
@alansoft, that is true, i will wait for the next correction before joining the rally, if we get a correction that is
Reply
alansoft Tendorian
@Tendorian, what's the next strong resistance and support?
Reply
Tendorian alansoft
@alansoft, I am watching this correction first, the fact that i have given up on shorting also means we are probably topping. But the next strong resistance should be 10400.
Reply
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