ridethepig
Short

Eyeballing a -50% move in BTC

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
=> 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...

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well done
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ridethepig iamlocodoco
@iamlocodoco, Thanks
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Well done sir.
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Nice comments.
+1 Reply
Why this levels? Are you based only on 1 accident line? There is many support lines that you dont paint )
Lines is nothing. Try to analyze price action.
+1 Reply
ridethepig artgen567
@artgen567, Here we are trading a very simple fib extension on our 5th and final wave... essentially the play here was betting on bears to step in and defend with a LH in a very technical environment.
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Looks completely rubbish. Not going to happen
+1 Reply
TheDudeForex geir.mjosund
@geir.mjosund, anything can happen, whatever which TA people come up with.
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ridethepig geir.mjosund
@geir.mjosund, Lol mate, looks like markets have already spoken on this one...
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