BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
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
On my Gann, we r still on a important Gann angle. It took me several hours to draw that combi-Gann.

@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.
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.
very good target. last stronghold in fact. below it, market is screwed.
@hkh222, Thanks man. I totally agree.
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