At the moment, we're still trading within the symmetrical triangle, but because the lunar new year is still too far away it's hard to see how a rally could start. There're three possible scenarios:
s1: BTC goes kaput from now. This will be very bearish, as we're not even at the apex yet. A drop of 4.5k can be expected ---> target will be 5.4k.
s2: We go to the apex and BTC goes kaput. the long-term trend line could provide strong support. $8 will be the target.
s3: BTC doesn't break down & stays between 11k & 13k until mid-Feb.
btw, if you believe the H&S must be completed, the target will be 5.4k (as the neckline is at 0.5x). I'm starting to think it's really going to 5k. Never felt so real before (even though I wrote it a couple of times).
Kommentar
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BTW, I think s2 more likely. 5.4k will be disastrous
@ha2, I think you're too invested in this. Gotta look at it both ways man. He gave you three scenarios. It now looks to be fitting two of them.
Stop looking for confirmation bias and take emotions out the game. Look for the clear direction and ride the trend instead of looking for charts that fit your position.
Otherwise you will just end up: bagholding, being depressed and lose all your money.
@leondb, I was almost rekt on bitfinex :'( had to close half of my positions to avoid liquidation --- was too stupid & saw high tradable balanace & low leverage & thought positions were ok (all have liquidation price 0). but my collateral (ETH, NEO, EOS) crashed hard.
leondb
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@DrJLT, I have luckily never used Bitfinex, are people running?
DrJLT
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@leondb, doesn't seem like it. I think once it goes up they'll show their bank account.