Bitcoin (BTCUSD) now started to drop and it seems like it will go lower than "expected"... Looking at the high volume bar for today's candle, it looks like the bears will soon have full control... No, worries we were expecting this drop...
Bit late to short it at $9600 imo. Not much meat on the bone and a high risk trade against bullish sentiment. This was merely a flush from the whale cartel. Usually coincides with an exchange closing trading for a few hours as the traders there have no way of doing anything to their position. $60 mill USDT minted also so market was going to go hard one way or the other. I hope it gets to $9250 as I have a buy order there to add to the long position but would not surprise me if it went to 10k by end of today to liquidate all the people now shorting in a bull market. Easy money for the whale cartel.
AlanSantana
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@HowToBuyBitcoindotnetdotau, We shared the trade when the prices were right, we ample time to jump in and collect great profits:
Pro_Trader_HTBB
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@alanmasters, cool but I'd estimate most would of taken profit on first drop and after seeing it rise back over 10.2k I doubt many held onto the short position. To advise to short now is not doing any service to any users on here imo sorry. I like your analysis and trades but sometimes it is all too late. I realise you want others to follow your advice to enhance your trade, that is normal for analysts on here with massive followings but I just feel for the mum and dad investors getting wrecked with badly timed trades. I'd rather tell users to open a long position and add to it when it drops to $9250, if it drops to that. Yer you may be right and a short now could make you a few bucks, but one rule I use is never short in a bull market, just add to longs on dips or buy in to new positions when market drops like a stone like this. If Joe closes his short on bitfinex you can kiss your short goodbye in 1 second!
AlanSantana
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@HowToBuyBitcoindotnetdotau, It is not like that... I am simply sharing this technical analysis for the BTCUSD chart.
Prices for Bitcoin (BTCUSD) are aiming lower just as we charted.
That is all there is.
Everybody is free to do whatever they like with this information, but our intended purposes are for learning and entertainment only.
Namaste.
AlanSantana
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@HowToBuyBitcoindotnetdotau, This is just a normal retrace after strong bullish action.
Regardless if the whales sold or not, we were expecting this drop and it is now here.
Pro_Trader_HTBB
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@alanmasters, dropping 1k in 10 minutes is a normal retrace? Wow!
AlanSantana
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@HowToBuyBitcoindotnetdotau, Yes. Whatever follows now is normal in the sense that is expected.
Prices were expected to drop and they are dropping.
My charts are the proof, believe it or not, it is there.
Wojak
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@alanmasters, To suggest that was normal and expected is silly.