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Big drop on the 1 hour chart seems to indicate a second rejection at the 11700 level and a search lower for support.

 

BTCUSD(£)H1.pngBTCUSD(£)Daily.png

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amazing that bitcoin spiked as well as the others

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my current chart FWIW                           Capture bit.PNG

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Odd, I wonder if that figure will stand on bitcoin? Dax only spiked 90 pip,  bitcoin 680 on the new platform. That is a lot of stops on shorts taken out.

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Down nearly 10% on the day, the big slide was on the 4 pm bar, but can't find that big spike up at 12 noon on any of the exchanges nor is anyone on twitter reporting it from other brokers.

 

Ah, I see IG didn't let it stand, the spike up has been removed from the new platform chart.

 

spk1.PNGBitcoin (USD)_20180307_18.41.png

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Bitcoin down through support and setting up for fourth straight down day as looks to the lower levels. Currently 8810.

 

 

BTCUSD(£)Daily.png

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That's one way of looking at the bitcoin cycle. Note the smart money/ investors/ public demarcation.

 

man1.PNGman2.PNG

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Still looks like a bear market with signs continuation of trend. Thanks for graph caseynotes.

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The slide to retest 6000 looks inevitable but what then? Consolidation and a retest of 9274 or a push through drop to retest 5000. 

 

 

Bitcoin (USD)_20180405_20.59.png

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The only trade on for Bitcoin has been short unless you are day trading using volatility to maximise daily returns both on the long and short side. 

 

 

Bitcoin could easily hit between $3000 - $4000 levels before any monster move upwards. Right now the media is releasing negative news after negative news on Bitcoin. Also the price action is extremely negative with a strong downward bias. On top of this bans across the world is influencing those who believe media hype and 'market noise'. 

 

Once this is all out of the way, only then will there be any sustained move upwards in Bitcoin.

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My current chart ( well the old one, if you remember it, updated)   Red Zone retest anyone?Capture bit.PNG

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Well yeh but is that the trade you’ve placed or just holding onto those crypto stocks and trackers all the way down?

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My stop losses got triggered so I do not hold any long positions at this moment in time for any Crypto related investment / trades. I will only re-enter any long positions once there is a clear trend reversal.

 

Yes I am short Bitcoin and Ether via spread bets on IG. 

 

How about you . What are your positions on Crypto or do you just post? Do you have any short positions on Cryptos?

 

 

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the bitcoin will keep going down, just short, manage your fund well,  don't get a margin call, you will be rich

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the bitcoin will keep going down, just short, manage your fund well,  don't get a margin call, you will be rich

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I am long both Bitcoin and Ether for the short term, from a purely technical perspective. For both, support appears to be much nearer than resistance.

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,

 

From a trend following perspective until there is a clear trend reversal and signal one has no reason to enter a long trade in either Bitcoin or Ether.

 

You are merely relying on hope to see support for both Bitcoin and Ether in the short term which means there is an element of uncertainty as there is always on any trade.

 

However, to increase your chances based on balance of probability it is far more effective to wait for confirmation before placing any such trade to increase your chances of success.

 

For me from a technical perspective there is no long trade on for Bitcoin and Ether at this moment in time. This may well change in the future but right now if there is any trade on then it is a short trade. Most of the smart money has been made shorting Crypto's. There may be the final leg down to come where Bitcoin could hit between $3000 - $4000. This may not happen if there is lots of positive news released around Bitcoin but this is anyone's guess.

 

I believe in the long term story for Cryptocurrencies, Digital Currencies, Blockchain, Tokenisation, ICO's, etc. but I will not go against the trend as this increases the chances of losing.

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You are probably right. What I expect in the next few days is a mere bounce back to the region of 7500 for the bitcoin and something similar to 420-450 for the Ether. 

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Falling wedge with a minor h&s pattern signaled a possible reversal for me.

 

Discloser closed the short.

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There is no method that can be used to identify a trend reversal with 100% accuracy. However, what you can do is monitor the price action and behaviour to help you identify when the trend could reverse. I say could as it is not a 100% guarantee.

 

Some of the factors that one could consider is trying to identify any weakness in the trending move either on the long or short side. One could also look at the strength in any retracement move. You may see a break in any key support or resistance. A good signal is any break in the long term trend line. When you see the price being overextended or when the price goes parabolic then these can be good indicators but that is all they are. It is risky using any one of these in isolation and they need to be used together to give you the best chance on the balance of probability to make right calls more times than wrong calls over a period of time.

 

If you look at the Bitcoin chart when the price went parabolic which is normally a sign that the dumb money is entering and the smart money is leaving then there was a trend reversal. From my experience parabolic moves upwards like a 'rocket' normally mean the end of the current trend on the long side from my experience. 

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short term technical have been working ok for meCapture bit.PNG

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