An update to our BTC chart

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
=> Here we have an update to our BTC chart after yesterday's spike from Saudi bypassing sanctions via BTC flows.
=> From the technical perspective yesterday bulls failed to hold above 7000. xx and we are set for further continuation of our current downtrend. Here we are tracking a 5th and final wave of this current retracement leg with our initial targets starting to unwind the position at 3800 and the extensions all the way towards 2880.x for the home-run.
=> There is little to update here on the fundamental side of BTC other than the snake continuing to shed skin. This year marked the majority of alts fleeing from the cryptocurrency scene like rats and leaving the few major players behind.
=> ETF denial was widely anticipated ...SEC in bed with the usual suspects on this one.
=> We have a detailed update coming in our end of year report on the mining front from very reliable sources, things are starting to advance behind the curtain which leaves the LT outlook intact... more on this another time.
=> Best of luck to both sides, already locked and loaded here.


Three touches make a trendline. I see one touch on the bottom, two if you are very lenient.
+1 Reply
It will shake out almost everyone if BTC drops below $5800 . As long as we are above $5800 , I am bullish about most of the shit coins!
Let's see what happens... This market is very manipulated, would shock me if we get a good run, but then a sudden death trap with huge sell off.
Like you said expected ......
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