BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
6950ish
Comment: Might not make it all the way there. Algos buy at 7064. May get front run by a large hidden wall.

Buying pressure is strong, most of the selling pressure is synthetic. I think maybe all the people going long right now get bull trapped on the 4th wave, and then we get our capitulation pushing price into the institutional limit orders.

Comment: Note, I am by no means a Gann expert, so go easy on me.

Comment: Targetting lower now in the low to mid 6's. 6400 seems about right. I don't think this current rally is going to get above 7700 or we've already topped. Currently running into 50 weekly MA resistance.

Comment: That's the fractal from feb 5th btw. Don't get me wrong, there are a lot of reasons to be bullish. Those are easy to see. I'm just trying to hedge my bias.
Coincides well with the .88 re-tracement; if this 6900 region holds and we see a massive pump we can expect a major bull trend
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On my Gann, we r still on a important Gann angle. It took me several hours to draw that combi-Gann.

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@hkh222, Nice! Yeah Nom is convinced we're not going any lower. I'm like... maybe by a wick? hehe. Waiting for this wave count to complete itself. Would not be surprised if the 5th truncated and was very brief.
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cI8DH DennisLeeBTC
@DennisLeeBTC, yea, he told me the same.

I also wrote on an update on a different TA about a wick piercing the Triangle base. I closed my shorts and looking for a reversal signal. I don't dare going long before seeing some steam from the bulls. If we go up, we might just resume the downtrend near 7.7k to 8k.
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very good target. last stronghold in fact. below it, market is screwed.
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@hkh222, Thanks man. I totally agree.
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