12th April Bitcoin - Fake upmove, Short to the bottom!

12 Apr 2018

What this move was getting rid of the weak shorts in the market. They were forced to liquidate their positions, especially on Bitmex where alot of people probably lost their accounts. But this upmove has probably ended and I am shorting this market. Now we can finally end this bear market.

I am not asking anyone to short with me, that is up to you.

Price 7700
SL 8100
TP Way way below 6500

12 Apr 2018

Catatan

The 4H has hit the 200 EMA and failed, definitely going down.

13 Apr 2018

Catatan

Price failed twice at the 8000 resistance, the bears should come in soon to push this down.

SL still at 8100.

13 Apr 2018

Catatan

Stop taken out, i will reevaluate this move first.

13 Apr 2018

Catatan

I still believe that we have not bottomed for Bitcoin. But this upmove may keep going for some time. So let's just play with it. I would be looking to buy in the 7700-7900 area. Will post if I am around when it happens.

13 Apr 2018

Catatan

I am sorry i just cannot bring myself to buy when so many indicators are showing big divergences. So more shorting.

Open 8110
SL 8300
Target first 7500

13 Apr 2018

Catatan

Definitely Down

13 Apr 2018

Catatan

Downmove has started, keep looking at 7500 for first bounce.

I will not be able to post chart updates for the next 36h, but I can post comments for updates.

15 Apr 2018

Catatan

SL taken out, we are going up. Trend has turned for now and has just finished the first correction.