Next BTC target about 3250
I missed another short opportunity today, doing other less important things than trading. Still I am short, but entered late.
I believe most likely we have bounced off the top of a wedge/downtrend and are going down....towards 3250.
Here is the setup.
Again I should have entered this somewhere around 3440, but I did not.
How do I come up with that 3250 number you ask?
Good Question. First it is the bottom of a downtrend/wedge that I drew. But even stronger are support lines from the rally in 2018.
Once we reach 3250 bitcoin is going to have to make a real big decision: Are we bottoming with some forme of double bottom or adam and eve pattern or did we just take a little break to then really get where we need to go (ie. 1k-2k range).
Most analyst I respect believe we are going down further. And I do too.
But I do believe that around 3250 there will be lots of support at first, so my current short will be closed at that spot.
 |  |  |
 |  |
|---|
This post has been revived by steem-forever and will get extra rewards. This happens when a post is upvoted on steem-bounty.com after the 7 day post life.
Users can simple upvote via steem-bounty.com continously, so posts can live and earn rewards forever.
Authors can share their steem-bounty.com links and get upvoted forever.
We hope this will allow everyone to earn more meaningful rewards over longer timeframes than before.
I'm also leaning on "it'll probably go lower" group. The more interesting question IMHO is are we getting to a point where something else could go against the overall BTC trend. So far I don't think we have reached that point. But I can see so many great stuff building behind the scenes when it comes to alt coins.
These are just few good ones on top of my head. People are eventually going to get frustrated of waiting for Bitcoin. It's just these big believers of BTC haven't suffered enough yet.
Good Luck on your shorts!
What site are you margin trading on? I took a break from it, but need to get back. Just saw Kraken is going to open up options.
Yea, still looking for BTC to hit $3,000. The volume has been nonexistent, and extremely unlikely for bulls. Should be other short opportunities here soon, or still currently. These charts are relevant for the daily level, so a pullback would typically last a few days.
Now when everybody thinks it will go down.... it will go up...
Clever idea about the 3250, in fact i have all ready setup a long position over that area, im expecting a recovery lapse since 3250 - 3200
Interesting. I hope you are right!
I think we are sure in for some fireworks...
Posted using Partiko iOS
:( Please tell me Bitcoin will reach again $7,777 this year
Congratulations @knircky! You have completed the following achievement on the Steem blockchain and have been rewarded with new badge(s) :
Click here to view your Board
If you no longer want to receive notifications, reply to this comment with the word
STOPHi, @knircky!
You just got a 5.19% upvote from SteemPlus!
To get higher upvotes, earn more SteemPlus Points (SPP). On your Steemit wallet, check your SPP balance and click on "How to earn SPP?" to find out all the ways to earn.
If you're not using SteemPlus yet, please check our last posts in here to see the many ways in which SteemPlus can improve your Steem experience on Steemit and Busy.
I hope that descent is not so serious
