It did drop out of that smaller time frame upwards , It could still drop, but the retrace was 120 points above the breakout price of that . If it would be really weak, the retrace would be much less,about 14.200. I have seen this kind of set ups before, showing some signs, but still go up.
The 13.900/14.000 did not hold, the bearish flag i talked about the previous update got completed. The H&S that was already forming also got completed! I thought the H&S would fail this time to push it higher, but the market was to weak. I had more than 200 points profit, but i expected more. now it's forming a bullish H&S with a target of 14.300. I will wait for it to break out of the red resistance area, and i will wait for it to pull back again before i go long!
Again a small loss, after being ahead 200+ points again. It just does not want to go up it seems!
What a big surprise (LOL) maybe, just maybe this will wake a few people up, about how this market is being steered, being created! So far it worked perfectly, the whole world as addicted at the moment. Self fulfulling profecy at it's best!
Nice to see conformation of a few things being confirmed by others what i have been talking about for months now. It is new to me that it goes back years ago, but no susprise!
This could become a wedge, wich means it could spike up any minute now. a drop below 10K means 9.000
Bitstamp seems to be making a nice H&S, but Bitfinex does not look that pretty, it's staring to loose momentem a littile bit at the moment, the highs are getting a bit less high, first signs that it can drop again (a bit).
The last day, each time i said bitfinex was pulling down the other exchanges, now we know what this means after seeing today. At the moment the same is happening, so big chance we can see another drop, probably above the 10K, but thats all just guessing
Looks like it will make another drop, tried to get back in again, but there is no real conviction. 10.600 is an important support, if it stays above, it could still move up again
Its making a flag now, probably gonna drop more, unless it make a spike upwards above 11K again
Now it's time for europe to get out
Staying much to long at the 10K low, chances are much bigger now it will drop!
Probably going to revisit the lows
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Ofcourse i would like returns of 1000% in 2 days, or 5000% in a week. But that's not realistic. You know what the biggest problem is, it's just like the casino, when you have tasted the big wins, you get used to it and you wont be able to live without it. So 99% of the people who have been winning the last year, will loose everything again, maybe not this month or this year, but they will. I have paid my dues during the Internet hype 20 years ago. I am just trying to make a few good trades every month, nothing more nothing less.
A few weeks ago all the amateurs around me who just started, were all happy and amazed, the last week they are all complaining.