BTC, on it`s way down, but hopefully not for long...

BITMEX:XBTUSD   Bitcoin / US Dollar Perpetual Inverse Swap Contract
OK guys, in my previous chart I said that we will probably go down since we were in ascending wedge and there was regular bearish divergence and this really happened, but it happened before I thought it will. Now this is 30min chart and now I think we are in short term downtrend, like I said we fall out of ascending wedge and we are now trading under the Ichimoku cloud on 15min and 30min chart, which indicates we are BEARISH . On the other side on 4h chart we are ABOVE Ichimoku which indicates BULLISH . You will ask "What does this mean...?". Well here is my opinion: At the moment we are going down, probably down between 0.382 and 0.5 FIB levels which is in correlation with BEARIS part, but after that we will come back UP to test that long term downtrend line in logscale between 86xx-88xx, which I mentioned in previous chart, and that justifies BULISH part. What will happen if this comes true and we test this line, we will see, we will maybe be rejected, or we could blow through and continue UP which turns us into BULISH momentum.

I personally have a small SHORT position open, which I hope to close around those FIB levels and probably turn into LONG. I DON`T RECOMMEND TRADING as I am, or following my charts, this is just my NEWBIE TA.

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Comment: So far we are on the right track. If you opened short when I posted, you could put now STOP LOSS at least at breakeven or you can take partial profit since we are more then 100 USD down. If we continue down, just move your STOP in profit.

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