BTC Short term

Last leg down either now (low chance) or around 7700-8200$ (high chance), or we go full fomo up (very low chance)

Target down 4400$ (will take time)

Comment:

I got asked about the "(will take time)"
I don't think we will see 4400 in few days, I think it will take a lot to wear out bulls after such a bull run

intermediary targets are 6000, 5400 and 4800. 4800 is a potential reversal zone

We will re-evaluate the targets with the momentum

We will use stop loss in case of weird flat reversal


Stay frosty

Comment:

There we go the flat reversal

opened a small short above 6900 (thanks slippage on my exchange and other people's stop loss triggering) with not much conviction as we are still under normal shorting values. Will go long on good pullback bounce and play both camps

however if 6750 holds too long, or if 6930 is broken, I will close the short and look for a new one

We still did not achieve the perfect shorting value up from my original idea, so I guess market wants to make it up :)

Longs use a stop loss at 6600

Trade closed manually:

at 6785$ short closed, long bought, stop loss in place, this bounce is huge

Trade closed manually:

sold 7000$

Comment:

Bulls are back, waiting retrace to get more long, or if I miss it, short the way down

Comment:

what I see happening (i'm going to trade green, while keeping red in mind. Too early to think about orange path)

Comment:

Looking weak, it's a countertrend trade, we are still bearish, so risky, reducing position with some few % profits on the long taken on the dip and adjusting stop loss

Not ready yet to start a short, but looking for opportunities (current price 6946$)

Comment:

Taking most profits

Comment:

:)

For those who are in my private paid service or educational material, or on our community's chat on telegram : Chart Attack chat ( t.me/joinchat/G-KOhRBx5afNsL2LQTZYeg )
A short was open at 7177$ on btc and 433$ on eth

I took partial profits on btc at around 7000$ and at 394$ on eth, and now will keep the rest running until stopped

Comment:

You can also take partial profits now at current price (6746$), because if there is a reversal, it will be ugly fast upward, as we are near a strong support (the one I drew in green labeled "likely" the 7th april, which we touched perfectly), and keep the rest running for the panic sell soon toward the 6000, 5400 and 4800 bounces I expect. Or at least, put a stop loss

However, I expect a small bear flag and then down

Comment:

I will apply my own advice, this smells like bear trap

I closed my eth short completely at 389$
I keep the btc short running and will daytrade eth on the downside, or wait a good entry

Comment:

Yup, bear trap
Now we are much higher (almost 7000 / 425$ for btc / eth) I opened a new short, with relatively tight stop loss

Comment:

follow up
Short, take profit partial around 6150$, max take profit 4800 (will update when we see momentum)
BIG bounce expected after (~8000$ then 12 000$)
stop loss 7200$ approx