Please be advised that this is only an idea, so you are responsible for any losses yourself.
************** This is only an update of my previous BTC ideas, please find the original ideas related *******************
First of all, don't forget to follow and like my ideas. Don't hesistate to ask me questions or to post your chart below. Furthermore, I'll only detailed updates here, and short updates on Twitter .
This is only an update of my previous BTC -6.19% ideas. The strategies are explained more detailed in my previous ideas. So find here the original ideas and an explanation of the choosen levels.
I've updated and added some targets. They are marked with a (!).
We just broke another tough support (1) intraday. A close with a candle below is possible and this will accelerate the sell-off to reach our next targets. I hope this will happen. We will find some support around 7600 and 7345 on the hourly chart. And a bounce towards old support (8300) is still possible. But we don't have clear signs for this at the moment. We just saw a death cross on the hourly chart and this is a sign for the bears to continue the sell-off. Furthermore, for the first time in years a more important Death Cross is incoming on the . The 200ma will trade above the 50ma daily soon. circumstances are getting better and better for the bears including us.
In summary: all signs are very , like I expected. Unfortunately, I don't have time to give a more detailed update for now. But I'll keep you updated here and on Twitter .
We shorted BTC -6.19% since $11300,- and we have reached our first two targets. Please, find the ideas in the related ideas or on my channel. Personally I'm short in steps since around $15.000,-. (Red dotted line) This was a level were a lot of people were making analyses with price targets of $100.000,-, totaly insane in my opinion. If you are short since the original idea, congrats with your profits!
If you are short since my original idea, stay short till we reach our final targets. Take partial profit at $6800 and $6200,- again and close all your short positions at $4600,-. We will start buying Bitcoin back here.
Target 1: 9600 (Reached: Previous idea)
Target 2: 7650 (Reached: Previous idea)
Target 3: 6800 (!)
Target 4: 6200 (!)
Target 4: 4600 (!)
After this, I made a great profit with this strategy and I can start with strategy 2.
I expect a (short term) trend reversal in this zone. So I'll start to buy Bitcoin -6.19% here again. The has a range of 3990-4600. So I'll set orders at various levels.
Buy 1: $4600,- (partial)
Buy 2: $4400,- (partial)
Buy 3: $4200,- (partial)
Buy 4: $4000,- (partial)
If we reach all our buy targets, we are in this trade for an average of $4300,- (Buy 1;2;3,4/Total buy levels). If we don't reach all our buy levels, we are in this trade with a lower amount, but we bought at the bottom or near to the bottom!
TP 1: $6952 (partial)
TP 2: $7867 (partial)
TP 3: $8782 (final)
Take partial profit at each target. I expect a continuation of the downtrend after reaching target 3. So, this will open short chances again. I'll provide you with a new chart if this scenario happens.
If we close with a candle on the below the reversal zone ($3990), sell all your positions immediately and take your loss. The reversal has failed and we go further with strategy 3.
This strategy is valid if we close with a candle on the below our .
Sell: Below $3990.
Final profit target: $2000,- (!)
*If this scenario happens, I'll update this idea with extra profit targets between the short level and the final target.
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Wow! Circumstances to reach our 4000-4600 zone, become better and better. :) We will see a death cross on the daily chart soon. Don't expect a huge sell-off after this cross. It is a great sign for us, but only for the long-term. It confirms our downtrend ,so it will triggers the bears to continue our downtrend for coming weeks. For the short term, a quick recovery is possible, before we will reach the 3th target 6800.
Well, we have left the behind the 10.000's permanently and I'm pretty sure, we won't see it again. This is the first death cross we see in years and I'm absolutely convinced we will reach all our targets, including our final target (50ma monthly) around $2000,-.
So, what I expect: short towards the reversal zone. A bounce from there towards profit targets* of strategy 2 and after this a continuation of the downtrend towards the 50 ma.
How nice would that be?
*It might be possible we won't reach all these targets, it depends how quickly we will reach the reversal zone. I'll update the targets if I get those signals.
Target 3 reached :) I'll keep updating this idea for the next targets. Congratz with your profits so far.
What a bearish power! We are trading towards another strong and main support level. We find the 50ma weekly here in combination with the spike of the 6th of february. We might see a bounce from this level to gain power for the next move down. At the moment it looks like we will see the 4k levels within in a week. Personally I think it will take a little longer. We can't go down in straight line and I think we need to see some recovery first. If we close below the 50ma this week, we might see the 4k levels soon as expected. If that happens, we need to prepare for strategy two and I'll provide you with a new update then.
Furthermore, we just saw the expected death cross on the daily chart and this is another signal the long-term trend is down. Be advised that a recovery towards the declining resistance (2) is still possible, so don't forget to secure some profit on our way.
In short: The conditions are great for us.
We bounced the 50ma weekly as expected, but BTC failed to keep it's profit. Wat we see now is a consalidation between (A) and (B). BTC tested (A) several times, but failed to break it. The result is that BTC is testing the downside of its temporary range now again. (support B). If we break through this support, the way is free to another sell off towards almost $6000,-! We find the old spike of the 6th of february here and we won't find real strong supports on the way.
If we fail to break support (B). A restest of (A) might be possible and a break of this resistance will take us to higher levels again, but for now it looks like the bears are too strong for another attempt.
In short, it all depends of this range at the moment. But a break of support and a drop towards 6000 is most likely now. This will automatically lead to securing of some profits again by reaching our 4th target. :)
Alright, I received a lot of questions about BTC. So here we go. I've to say that it's we have seen very boring days and we failed to break the 50ma weekly after a couple of tests. We are still in consolidation. As soon as we break the 50ma we can test the old spike around 6000. After it I expect that we will reach our final target soon. Here we find our buy back zone. I'll start buying at 4600, as mentioned in the original idea. If we will fail a break of the 50ma weekly next weeks again, a test of the 7800 resistance is still possible. As long as we are in consolidation quality coins have room to recover a little of it's losses.
Quick update! The box is our resistance zone. A close above and a daily close above resitance in the original idea, gives us reversal signs. For now, I expanded my short positions for BTC.
It's not only possible in crypto. 100%+ profit since the original post. Blue resistance is our next target.