tobleron
Short

Bearish strategy for the 4th Bitcoin Run

BITMEX:XBT   Bitcoin / US Dollar Index
So the overall trend is bearish but there is some consensus that there is a fourth Bitcoin run that will complete the 4th lower high along the retracement journey from Bitcoin's yearly high.

My short sell target is @ 11365 at 25x leverage. The liquidation zone is 11777.
I am more than happy to get liquidated if Bitcoin crossed the 11500-11600 zone as I can see a ton of resistance there.
This is not some complex analysis just a visual imagination of the maximum dollar value Bitcoin can do if a bearish downtrend is to continue.

According to a former analysis I've made the drop may also start at 11,118, why?

First bull run 13,916
Second run 13,248
Gap between first and second 668

3rd run 12,343
Gap between second and third 905

I wanted to know the retracement ratio between first and second bull run so I can calculate the retracement ratio between the third and fourth (final) bull run in the journey of retracment from all time yearly high.

Divide the first gap with the second gap 905 / 668, and you get a number that represents the retracement multiple which was 1.35. So 668 x 1.354 = 905
905 x 1.354 = 1225
12,343 - 1225 = 11,118

So this is just my opinion and not a financial advice. Let's see what will happen during this maximum market confusion.

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