Long

Bitcoin (BTC) Be careful, this could be a correction. Trend down

Updated

Be careful with the rise. If you take a step back, the large trend is still down. We are still in the descending triangle. This is very likely to be a bounce before further drop. Now, I am bullish with everyone else, I have bought Tron believing it will go up. However, it is important to consider that this is very likely just a bounce like all the other bounces we have got.

Therefore, I will not be longing Bitcoin as I believe the risk is too high for me to do so. Altcoins are easier to predict compared to the heavily manipulated bitcoin.

Therefore, I will be shorting Bitcoin from 6.6 all the way to 7.3k. If I am wrong, I have calculated the loss, and am willing to take on the risk.

Target:
The 5300 USD area will be my target for this BTC short.

I think we will go higher perhaps to 7k, and might long Bitcoin with a small amount, but the majority of my money will be used to bet that Bitcoin falls.

Thanks for viewing! I will respond to all your comments. You can see some of my past Bitcoin 3.18% charts in the related ideas.

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Close up

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I'm thinking we hit 6.6k for the third time. Few of my shorts is placed in that range.

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Possible rising wedge

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I entered short at 6600 exactly. It was a small amount.

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Trade closed: target reached

Closed long at 6446, long again from 6370 with stop loss at 6308

Trade closed: target reached

2nd long closed at 6504, new chart available.

HD1184K

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