We are at the top of two bearish channels. Hopefully everyone recognized it and shorted the safe zone.
For some reason the last chart did not publish correctly, here you go, hope you enjoy your profits. Lately I have not had a lot of time to update tradingview charts.
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Trade active
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Worked out perfectly
Trade active
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This Particular chart was made by dubs from our community. Giving him credit.
Might have been easier to just fib it. The last three move up went 61.8% fib. Still interesting chart though. How far down do you see this drop? I'm looking at 5400s right now
rakado
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You predicted this reversal perfectly. Quite astonishing!
achtung360
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@rakado, How do you feel about the setup now? Was pretty sweet. Didn't get much attention on tradingview but would have made anyone who followed it a winner trader.
rakado
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@achtung360, I saw your post after the fact, and BTC was at 6400 then which as an entry point looked too risky to me. I share your long term sentiment however (bottom around 5000 or below). Market might make it's next bigger move soon, but I'm not sure enough on the direction.
achtung360
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@rakado, I think unless major news breaks on India or China, the rest could down could be a long hard bleed out. Its not to say there won't be trades to make money but it could be painful.