BITMEX:XBTUSD   Bitcoin / US Dollar Perpetual Inverse Swap Contract
Hi,
After a long which has failed ($8600 closed at BE), I bought the lower boundary of this likely channel.

1> Completion of a bullish butterfly
2> 0.618 retracement of the whole 2017 rally
3> SMA 200 daily.

I'm expecting a retracement to 15.300 to complete a bearish cypher . Then going short again for a final target at $5000 for 2018.

If this scenario is succesful, i'm expecting a long time range between 5K and 8K during this spring until early summer before beginning a new bullish wave.

Time will tell.
Trade active
Comment: Short time framed.
121 bullish pattern / 1000$ drop from yesterday top.
Added long at 8500.

If not enough, back to 8000 for bullish cypher.

Comment: Better fibo confluence for 121 + inner bullish bat + 0.618 retracement.
TP 10.200 bearish AB=CD


OR

Srtucture of a likely gartley (invalidation for this scenario if price breaks the dashed TL / above 9.000)


In short, if
Trade closed: stop reached: Stop triggred at 7800.
Tiny short 7700 / Closed $6700
Rebought at $6700

Tricky Gartley - TP on chart
Really? How? Another bull trap?
Reply
I agree. And seeing your performance from metals, you will be spot on.
We will have so big bull trap, at 13-15K, that will catch as many people, as in 2014.
Then drop to 5K, and probably sideways till new cycle in 2020.
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