Bitcoin (BTC) Short Trade #3: Showing 21% Profit Thus Far

in #haejinlast year

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One of the main reasons for the current decline of all currencies is that there is very low turnout, as reported after reports that since the beginning of 2019, the digital market has seen a significant decline in volumes of volumes, and those volumes recorded new bottoms not recorded since 2017

That's called a bear market. But don't worry, once the bull market starts, the FOMO players will come back...but always too late.

thank you mr @haejin for this good new as we see the market value of digital currencies on Wednesday fell more than $ 2 billion to $ 111 billion, the lowest level since December 17, with most of the major currency prices falling.

what is going on behind with these digital currencies? the secret behind Deflator trend?

Deflator trend? I don't know what that is. But the bottom of the correction is near...

bitcoin trading in a downtrend forming on the hourly time frame strengthens the breach of the rising trendline by breaking the $ 3466 area.
The (ADX) indicator is currently neutral.
The SMA 20 is currently bearish.
Momentum Relative Strength 14 is trading in a bearish direction. This trend is weak due to stability failure below 30 pips.
It is expected that, in the event of a digital currency breakout, the $ 3516 zones may target areas of $ 3,615.
On the other hand, in the case of breaking the digital currency Betquin areas $ 3430 may target the $ 3083 encrypted currency target of the symmetrical triangle classic model.
Support: 3376 - 3252 - 3108
Resistance: 3543 - 3657 - 3807
Direction: Down

Yes, trend is still down and sub $3ks expected. When in doubt, trade in the direction of the this case, short sell.

Oh yeah? how about that yesterday?

let's see

Profit taken at 21.07% via trailing stop out.

Unfortunately, during retesting yesterday, it failed to break through the broken bullish trend line and therefore fell towards $ 3430 zones.

Bitcoin is currently in the process of touching the six-week low at $ 3,322 per unit formation, and a strong candidate to record new lows in 2019, and with the pressure of selling, it is not long to abandon $ 3,000

Soon the sub $3ks

I totally agree. The price of bitcoin is going up, but just a tad bit. Too many people are bullish and don't realize the TA involved. Have you ever watched crypto amd on youtube before?

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I believe the overall trend is still down. This rise is likely a bull trap. It could rise towards towards the $3,387 or so...but it's probably a trap.

yesterdaybitcoin gain was 0.65% higher, the first gain in three days, with prices still fluctuating within a range but i think we are going to 3150

@haejin did you find the bottom or not yet?

Not yet...but probably somewhere between $2,200 and $2,600


Check this inverted chart

Yes, and the rally is playing out. I believe it should fizzle out by 3pm EST today or so...

Yeah looks like the wedge broke out at the .786 and didn't bother testing the .88

We'll have to see volume enter for any meaningful price action.

I presume the stop loss was hit, could be a chance to reload. For myself however, I'm watching these levels rather carefully. ICX made a "lower low" and rebounded rather quickly, if that's any indication of sentiment.

BTC is on the verge of a third loss in the last four days, the lowest level in a week, with renewed open sales in the digital market, amid fears that investors control the tightening of regulatory procedures and weak protection systems and easy to manipulate prices.