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BTCUSD fails to break through $1230 barrier and heads down.

アップデート済

BTCUSD seems to be heading through a double top. Resistance is building strongly at $1225 and should trigger a major sell-off on 4/20-4/21. Next target $1185.

ノート

BTCUSD has broken the 1230 barrier. Looks like it's going up to at least 1250 before major resistance. Will it break the 1250 barrier and head to new All time highs? Or is this a case if Icarus flying too close to the sun?

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Rumor on the street is that major exchanges are having difficulty with outgoing BTC, some with incoming as well. This will shut down arbitrage and may slow or reverse the uptrend. I expect the reversal to still happen and that 1240 won't be broken.

status.coinbase.com/

Target: 1240 on 4/20 (late) 1170 on 4/21 (mid-day).

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The resistance at 1235 is substantial and the bulls do not look like they will take the day. I would say take profits here.

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Looks like Icarus is seeing the first drips of wax coming off his wings.

Should break down on 4/21 (late) ~24 hours from this comment.

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Well I'm still sticking to my timeline. Should be major resistance at 1250. I'm thinking it'll be enough to turn it around. If it doesn't, new high of 1300 in a continued uptrend. If not it will return to the previous level before the run up.

ノート

Lot's can happen when you're not watching! BTC looks to be turned away from 1250 as projected. Currently there's been 3 hours of downturn. It may test 1250 once again ending around mid-day 4/21 before heading back down.

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I don't always draw a line that perfectly aligns with the trend. But when I do, I'll take a screen grab and post it. I'm gonna stick with my timeline and prediction on this one.

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Unusually high support on the depth chart at 1242 on Gdax is causing a small sideways movement. Once that support is removed (more than likely a bull bot keeping the price up) expect to see a continuation of the downtrend.

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This sideways movement has gone on too long for a continued uptrend to happen. This is my make or break call on this trade. Will it go UP or will it head DOWN as predicted?

I'm gonna stick with my timeframe. We'll know in a few hours!

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Oh boy. Here's the big moment. Looks like BTC is touching 1250 again. Did I totally blow it? Or will this last bull attempt be the last of this run?

I'm gonna double down on my prediction and say that BTCs meeting with 1250 will trigger the big downturn I've been talking about.

We'll find out. Then we'll do post idea analysis.

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BTCUSD failed to break the 1250 barrier and is now headed down. Looks like I missed on my original ceiling of 1238, and missed on my timeline by 1 day. The overall idea was correct and the timespan was correct, so I give my overall grade as: B

Did you follow along? Win big or prevent a crushing loss? Show some thanks with a tip! Send a small token of gratitude to this Ether wallet:
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ノート

Oh man!
Downgrade my B to a D- folks. Looks like BTCUSD has shrugged off the 1250 barrier and is headed to 1300.

How'd I get it so wrong? My TA was pretty darn good, what I failed to account for is the boost that BTCUSD would get due to the news from LTCUSD gaining Segwit. I felt like that wouldn't translate, but looks like the market is assuming if it activates for LTCUSD it will activate for BTCUSD down the road, causing this bull run to 1300.

So. If you were able to short the dip to 1220, you're doing great! Enjoy the ride the 1300 folks!

Of course if you're really looking for a Moon ticket, my LTCUSD prediction has been much better. And the tickets are way cheaper.

This ends this idea. Thanks for following along! Please let me know if you've got any comments or suggestions for how to make my ideas better in the future!

SammyOne