AdamHong
Short

BTCUSD:Bearish Cypher Pattern

BITSTAMP:BTCUSD   Bitcoin / Dollar
4 days ago
Tha market has shocked at the top for several days.
The bearish Cypher pattern completes at 743 level and the pervious structure also works at this zone.
So it is good to sell short at 743-749 levels when price action gives signals in the PRZ.
SL:above 750
TP1:734
TP2:724 and further more
3 days ago
Order cancelled: No signal is given.
Elkimio PRO
4 days ago
Hi, I think you are wrong and you'd better look into structures on BTC markets and exchanges with bigger volumes. I recommend BTCCNY on OKCOIN. There is a broken triangle out there, surely no signs for short positions. Take care!
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Crypto.888 Elkimio
4 days ago
@Elkimio, Well said.. Look at the charts again @AdamHong? Unfortunately you are mistaken again :-)
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AdamHong Crypto.888
4 days ago
@Crypto.888, thanks for your attention,and I am looking at the BTCCNY charts.It is the first time I look at the BTCCNY,and it also may be good to short because of the 0.618RET.
snapshot
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Elkimio PRO AdamHong
4 days ago
@AdamHong, I agree about Fib retracement, but imho it just works as a resistance and won't last long.
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AdamHong Elkimio
4 days ago
@Elkimio, The 0.618RET is very important,and the market has broken out the starting point of last rally,and also the 0.618RET has pulled back again.So we should wait for the drop next.I still hold the bearish opinion.
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AdamHong Elkimio
4 days ago
@Elkimio, Thanks for your reminder,but I still hold the bearish opinion on BTC.I have looked at the BTCCNY and you are right that the triangle has broken out,but the target of the breached triangle has reached.Meanwhile the 0.618RET is at the target zone.It is also a bearish AB=CD pattern.
So bearish opinion is held to me.
Please give me more feedback if you like.
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