I have enough confirmations that we are at bearmarket now as i have been since the beginning i started to publish. One small correction to 10k from 6,5k cant change that :). We are correcting 2017 prices.
So what happens next. We broke the channel floor and started to go down. Our first small A (or W) -Wave is done leaving us just below the channel. I see is going sideways for a day or two so that we can form a bearflag like i predict in this chart. It's not necessarily 100% like that and i cannot say when it breaks but i definately see that we will go down. So what is my roadmap for short term trading.
1. Waiting for B(X-wave) to go 9400-9600 regions. And then ill move to short 2. Short until 8600 or keep shorting depending what indicators we have
I still keep updating my bigger chart which i linked here. Make a note that in my big chart i have very big ABC retracement series. That is actually WXY. I marked it as ABC to keep it simple for beginners to understand what that is. And its NOT WXY for this rise from 6.5k to 10k. Its retracement from 2017 bullrun as is this whole downtrend we started at the end of 2017.
Ill keep posting
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So we are still in A (W) wave. Entered to shortposition. Closing short at 8600
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Still holding on to my short. If it pumps to 9400-9800 regions i will ad more to my short position. It should be clear by now even for the bull's that even in the most bullish scenario the retracemt has begun.
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Seems like B is about to start. Lets see where this bounces
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Updated this 12 hours ago and it seems to follow this snapshot pretty accurately. So we have fininished the A Subwave of B-wave and about to start B-Subwave of B-wave which will go slightly down, so dont get scared. Id say bout 9100-9200 levels. From there we will start Subwave-C of B wave which will take us approximately 9400-9600 levels. And then the storm starts!!!!!!! :)
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Add to that: Dont get confused, my ABC is marked as WXY
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Referring to my last snapshot: Orange X just started. Right on time. shouldnt go under 9k. estimate 9100-9200 then back up 9400-9600 before the crash
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Definately something major is happening "soon". Volume is very very very low. It doesnt need much money for someone to love the market with this volume. Be cautious! I will adding more to my short position below 9k or above around 9500 depending which hits first. If we go below 9k we wont hit 9500 again atleast for a while
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Love=move. :). Typos.....
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So it took 5hrs something to happen from my post. If this doesnt go below 8950 we are in that orange small X wave that i predicted in my last post. I predicted it to happen little bit sooner but better late thatn never. If it does go below 8950 we have already done that orange small X wave. I dont think we have. Im waiting for that bounce to above 9400 where i stack some more to my short and getting ready for the BIIIIIIIG C (Y)
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Should bounce soon. Because this B(my orange X) was so extensive the last subwave of this upgoing correction will possibly end near 9400, not 9600. So be very cautious when over 9300. I will post an update when i go short.
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And as you know, im in short position. It seems that the C wave started. My target:8050
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Still wondering that B wave. It was so dim. But still valid.
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Possible solution in snapshot here. Just because im wonderin that dim B it's very possible that we are still in wave A or just finished it below 8900. Correction is not over. that much is clear and we are going to atleast to 8k even in the most bullish scenario. This is purely my opinion.
So to this snapshot. Ive marked this as WXY but you can also mark it as ABC if it makes it easier to picture. I well aware the differences of ABC vs WXY so no need to give critics concerning that (different sub waves etc). It's irrelevant at this point. Targets are relevant. B- wave (X in my pic) is usually a wave to give the final trap to bulls before drop. Now the B was pathetic if it really occured so this is how i see a perfect bull trap (orange X) where first we go down to 8k and then we annihilate shorts by going back to over 9k and then the storm breaks.
@DoubleF, Thats also possible. After 8500 we should be very cautious
BatmanLovesCrypto
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Great, thanks!
How did you short at the top? Did you use a stop loss and this huge drop triggered it, or did you sell manually, and at what value?
Thanks for sharing mate!
JoppeJoppe
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@BatmanLovesCrypto, Actually i started shorting near 9k so my short position is still bit negative :). I could close that position with very minor loss but that stack is so small compared to the stack im bout to short when it goes back to 9400-9600. On that 9400-9600 (theoretically 9800 is possible but not above) the B wave will end and the BIG BIG C will start. So im powering up my short in 9400-9600 regions and targeting to 8k-8200 to close that short. Then we shall se what happens. Below 7300-7500 crash pattern activates and we will go down and fast
BatmanLovesCrypto
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@JoppeJoppe, thanks for letting me know. I hope your TA gets real. I'm waiting BTC to hit a new bottom to buy some. Good luck man, and thanks for sharing!
JoppeJoppe
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@BatmanLovesCrypto, Remember that im a trader so for me it's all the same whether it drops or not so i hope you don't wait for new lows just because of my TA :). I do believe we will go very low but at the moment we just have to take one step at a time