Exchanges did the same trick all over again!

It's all in the chart folks. Since we broke 7k where all the short stops were collected, there's not much left to do except a really big dump

Note

as of now, the correlation with the chart below is 1:1, exchanges doing exactly the same, massive sell off on bitmex with fake 5m price support

Note

Ouch, 8 hours later the charts are so simillar, it's getting scary. If history repeats itself, whales stopped dumping to let the market self-correct up to 6800 for next 3-4 hours and grow some buy orders. then whales will continue the dump and finish the bart pattern

Note

indeed, the price is being held high, still on top of the bart pattern. However, we're getting a 2 days longer bart pattern, which is actually a really good news for bears, because these are the weekends when main markets like cme are closed. if we'd go down now without the other markets and with a cme gap, the move wouldn't have much significance. But it looks like we're on a verge of a trend reverse.
can't advice anything except short at 6799 or 6899. stop at 6810 or 6920 to your liking. no actual targets because we can go sub 4k this month. moving the stop-loss down would be a good idea

Note

alot of people on tv expect immediate moves from btc. well as i wrote yesterday, we're not moving anywhere on weekends. we need main markets to open first. expect a real end of the pattern on monday. if we won't go down by then, i'll admit this idea was invalid and whales tricked me. as for today, the price will swing around 6800 (price where cme closed), and going slightly above it before the crash starts

Vadim_Fedenko

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.