I am ready for hate, as usual when the forecast did not plays out, but it’s part of the trading. I had the nice long entry point, sitting at the small profit, but the market suddenly changed it’s opinion. I closed position at zero profit, which i wrote in my telegram channel. Thus I lost only commission fee at my last trades. You know my strategy – I find the nice entry point and close position in zero profit if the market change it’s move. Thus I am waiting for one huge trade which will bring to me 30% to deposit.
Those people who subscribed to my blog here in TradingView for a long time know that overall I am bearish and waiting for 26k. You can find the distribution scheme which I drew two weeks ago. My yesterday’s long was opened because I waited for 44k before the drop, but it was earlier than I supposed.
Ok, what is next. The current situation is critical for bulls. The trendline was broken on the high volume after the fake pump, it is almost 100% guaranteed that the fall will continue. The price now is testing Fibonacci zone 27 and if it will be broken the next target is 33k. From there I anticipate the bounce to test the trendline before the continue falling to 26k where in my opinion the bear market will be finished.
Good luck!
DISCLAMER: This is not a financial advice, do you own study before making a decision on the real market. If you decided to follow the idea in this article, please restrict your risk to 0.5%-1% of your entire deposit.
i actually closed a bit early and shorted a altcoin, but I closed the short pretty early since I didn't expect it to dump that much. I thought BTC was going to retract to Fib 0.786, it just when straight through it.
RubicPattern
⋅
@RubicPattern, Also I have a weird feeling BTC might "bart" upwards. It wouldn't surprise me if it that again. Slight bullish div on the 1hr & 4hr currently.
GabryRo
⋅
Thanks, last week I got a good profit with your idea, used stop lose in the last trades, so I saved quite a bit, I'm grateful for your help.
WP_traders
⋅
Do not be disheartened by losses or failed predictions. Evaluate where the trade went wrong and try not to do it again. As long as you are learning, the loss is not useless or worthless. Also, do not listen to the haters in here, the majority of them cannot perform their own analysis, and end up trading of someone elses analysis. Anyone who trades of someone else analysis or signals are destined to fail in this world. I am of agreement, further movements down toward $32-33K before we try to retest trendline. Overall bottom, I am in agreement it will be in the region of 28k, perhaps mid 27K providing the momentum continues. If price reaches this point, unless something dire happens in world economics or crypto is hit with ridiculous regulations, we should (hopefully!) get a major bounce from here. As always, thanks for sharing and continuing to share your analysis Ivan, its greatly appreciated regardless if you are right or wrong, I still learn something and get another perspective from an intelligent trader.