This trading ideas follows up 2 before looking for extrem short term counter trend moves, following form behavioral finance historic lessons tha negativ news climax could be answered one or two times by an short term spike to the upside. Countertrend trades are extremely fast but also showing a very high risk. One trading idea was exactaly right, the other one a complete miss:
Right:
Wrong:
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BTCUSD is following the downtrendline. Any break could cause a short term spike to the upside. If BTC might not be able to break the short term downtrend than new lows will occur.
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Technical View:
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Please click on the chart above to load comments, facts & figures.
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Downtrend line broken: Expect short term strong upside momentum
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Here we go: BTC closing in to 10k:
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Here we go: BTC closing in to 10k:
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The Eurphoria came to early, definitely: BTC unable to cross 9.500 now falling bck folowing the downtrendline. Any break below will trigger new sell off:
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If ever it might go down - it will go fast. A stopp loss should be in place now. But same time the charts telling us USDBTC following the downtrend above the trendline. This is indicating that the downsidemomentum could weaken - even it is strong still.
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BTC stays above both down trendlines. Looks like its finding some support there. Even the 10k was not reached today (9.500 yesterday) it looks like that BTC is getting a second chance to rise to 10k.
Hey SwissView
Do you think btc can overcome 10k or will it bounce back and heading to 8k for an new low?
SwissView
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@vmesserli, I am not sure what will happens next. I guess it might be more safe to trade just short term moves. If i see that it might get higher and feel well with it maybe i try to make another update. But in general: After drops like seen before any market reacts with huge swings up and down and more going sideways. But BTC is a diffrent story as everyone might know now.