ridethepig

Eyeballing a -50% move in BTC

Short
ridethepig Updated   
BITFINEX:BTCUSD   Bitcoin
=> Here we are tracking exhausted bulls running out of steam and eyeballing a break to fresh yearly lows.
=> Irrelevant ETF denials provided the ebb and flow for August however we are now back to a "normal" environment
=> Expecting bears to pull the handbrake here with stops above the previous highs this is a very technical trade targeting the fib extensions
=> Initial targets are placed at the AB=CD leg towards 4800 with ext towards 3200(edited)
=> GL
Comment:
A traditional update to our BTC chart
Comment:
First target 4800 reached... well done all
Comment:
Second Target 4060 reached.. clean and simple ride...

Related Ideas

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.