Short bitcoin, from ~ 11888

Bitcoin pump in last day to ~ 12000, but the volume is not optimistic for the bulls, no consistent volume, and the uptrend is hard to hold for bulls.

Here is my proposal for the path of bitcoin, we may see 4H double top formed, and the right top maybe lower than the left one. my plan is closely watch the volume of bitcoin when near the previous high 11900-12000. and slightly add short from ~ 11900, the final battle will be in the bottle neck ~ 11500, if break, just short without reasons.

Trade active:

Very good so far, call me prophet! only 1 USD difference with the real lower high with my prediction!

Trade active:

And the price is very near the most important level ~ 11500, which is the neck line for last double top, and also potential neck line of this time. I bet down as my proposal.

Comment:

Only after 1 min of my last post... very aggressive move as expected. drop with decent volume, all of indicator / multi time frame on our short side!

Trade active:

After the huge short last night, seems recovery is near to the end? bullish wedge possible to form. and bulls wouldn't like to pull back to higher high.

Trade active:

another good call.

Trade active:

From the 1H view, another H&S to be formed.

with 15 min chart, the drop may initiate very soon.

Trade active:

And let's dig into more with 1 min chart to find best entry short point, look at the neck support ~ 10970, if it cannot hold, drop may start from here.

Trade active:

Meet huge resistance in ~ 11500, which is the neck line of previous 4H double bottom.

Comment:

this idea keep valid when bitcoin below 11500, if break with decent volume, we may consider cancel this trade.

Trade active:

False break out with normal volume, and retest 11500 failed, short still in play.

Trade active:

It's about to choose the direction in long timeframe. I still choose down as the name of this thread.

Comment:

market choose upside, trading close.

Trade closed: stop reached