Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
Decided as of Monday I'll be bearish 
New target: $5,600, until proven otherwise. Fits with the bear channel we're in that everyone else has already identified.
Going to put my short-term bear cap back on folks.
New target: $5,600, until proven otherwise. Fits with the bear channel we're in that everyone else has already identified.
Going to put my short-term bear cap back on folks.
Mmmhhh, what has changed your mood about it? That channel was already there. The only news of the past few days is that after the pump to 8.4K it retraced to retest 7.8K as expected and bounced back nicely. Next step could be some sideways and maybe then breaking upwards outside the channel.
I mean, it could also go back down as you say, but TA (if that's what you prefer) hasn't changed and price dynamics have been very positive lately.
$5.6K looks bearish AF at this time but hey, everything is possible.
Sometimes placing an order (or a short) can change an otherwise seemingly reasonable person's perspective, even though the facts may not have changed as much as the fact as their book has changed. Hahahahahahaha ..
I don't see a bull market on the Daily charts, although I can obviously see the argument on a Weekly/Monthly time-scale.
I just see shorting bear-cross resistance of long-term MAs as high probability scenarios, same as longing bull crosses for that matter (when price is re-testing that is).
TLDR: pre-emptive "sorry for your loss dragonvslinux" (ditto whiteboy420).(not really). shouldn't be shorting king daddy in a likely bull market. 
That's what everyone said last time at $9,500, telling me I just draw squiggly lines that make no sense and we're going to the moon.
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While it turned out to be one of my best short-trades, probably because of the high-risk