Xzhi
Long

The head and shoulders could play out for Bitcoin.

BITMEX:XBTUSD   Bitcoin / US Dollar Perpetual Inverse Swap Contract
People might not believe in the head and shoulders pattern, thinking it would be a "trick" for you to buy and get rekt.

However, looking at USDT balances of Binance and other exchanges such as Houbi, I can see they are refilling again.

Therefore, there is a good chance there will be a pump for BTC in the next few days. If this falls through, you probably aren't going to lose as much as the potential reward.

Previous fills up to this level caused a 3% BTC pump. So could be just a small pump before another move down.

Thanks for viewing!
Comment:

If we don't hold here, its very likely we bart down into this area in one big move.
Comment: Quick update.

I closed my longs for 6%. I can buy back in but this is telling me to sell.

Trade closed: target reached:

Update. First target reached.
you have doubt with this current bart move ? not going to buy back again during correction ?
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Do you think a break of previous low into 2k is a possibility? I think we may form a trading range or at least a descending triangle with base @ 3k

Cant really fathom that bounce was all the market makers wanted
+1 Reply
Xzhi deliciouspodo
@deliciouspodo,

I think sub 2k is very likely. There is no way 3k was the bottom.

Still a year left before the halving. I'm looking for the break of the 200 day ma and the btc nvt ratio before going permabull.
+1 Reply
@Xzhi, Thanks man! The PA is really tough these days
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