Btc switched longterm trend to down again as expected and...
So the first arrow on the left is where the trend switched from up to down long term, the arrow on the right is where we switched from down to up shorterm trend. I predict $7912-7980 as the range of this short term uptrend currently. So i suggest shorting in that range. We will be going down hundreds, likely slowly until weekly close and possibly a hard drop after weekly close. Just my thoughts right now.
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Minor note: the right arrow is actually best pictured in 5min frame but 15m is the lowest you can publish an idea with and the left arrow is actually best on the hour timeframe but the hour timeframe would of been horrible for pointing out the short term uptrend we are in to get a short position for the longterm drop.
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$7900 may of been the top and at hour we may start down so open shorts now
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I think we have more up starting at 15 after (4mins from now)
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Im going out so i set my short at 10x and am happy at $7900 open, i also set a short to double my position and move my open to $8000 at $8100 with the other half of my stack.
They are setting up for a huge drop from the looks of it and depending on how many periods of rsi need to be "setup" for the rsi to drop the minimum ammount per dollar that btc falls is hoe long this will take. The most important rsi's when it comes to a quick dump are 1m to 60m and since their are 14 back periods in the rsi calculation that means it could take upto 14 hours to full setup if all 14 previous hour candles are unsuitable for the setup. They have been setting up for 5 hours almost so it could take upto 9 more hours which then brings up the question of weather it would be stalled until jus before or just after the weekly close in 18 hours.
So with all that confussion i decided to just do what i did and open my short and go out. I can definitely see the close happening as high as $8650 and being logical because it would make the weekly rsi drop faster in subsequent weeks and i could see them over pumping to close to $9000 and then right before weekly close dropping the price to $8650 when you were waiting to close your long right before close and open a short and then pumping a bit again to kill all the shorts that open after the $9000 to $8650 instant drop and then finally dumping. (Yeah thats all just a reminder on why low leverage is unfortunately very important even when the pump or dump is a guarantee.)
They are setting up for a huge drop from the looks of it and depending on how many periods of rsi need to be "setup" for the rsi to drop the minimum ammount per dollar that btc falls is hoe long this will take. The most important rsi's when it comes to a quick dump are 1m to 60m and since their are 14 back periods in the rsi calculation that means it could take upto 14 hours to full setup if all 14 previous hour candles are unsuitable for the setup. They have been setting up for 5 hours almost so it could take upto 9 more hours which then brings up the question of weather it would be stalled until jus before or just after the weekly close in 18 hours.
So with all that confussion i decided to just do what i did and open my short and go out. I can definitely see the close happening as high as $8650 and being logical because it would make the weekly rsi drop faster in subsequent weeks and i could see them over pumping to close to $9000 and then right before weekly close dropping the price to $8650 when you were waiting to close your long right before close and open a short and then pumping a bit again to kill all the shorts that open after the $9000 to $8650 instant drop and then finally dumping. (Yeah thats all just a reminder on why low leverage is unfortunately very important even when the pump or dump is a guarantee.)
Trade active:
Long immediately! Closed my short at 7720 and picked up long at 7733
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Ok so every rsi from 1min to 12 hours looks like it will be going to 30 and that we very very likely will close down so that all those large timeframe rsi lock in down near 30. Although the manipulators could easily pull us up say $200+ in the last mins and have them lock in a little higher and screw everyone that was waiting till close. So i expect alot more dump in next 45 mns followed by a $100-400 up 1-15 mins before close followed by alot of up the entire week