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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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.
Looks completely rubbish. Not going to happen
+1 Reply
TheDudeForex geir.mjosund
@geir.mjosund, anything can happen, whatever which TA people come up with.
ridethepig geir.mjosund
@geir.mjosund, Lol mate, looks like markets have already spoken on this one...
ridethepig geir.mjosund
+2 Reply
Mantrid geir.mjosund
@geir.mjosund, owned!
+1 Reply
5k short term bounce, then 3k....just look at the long term moving averages...it will take a year to turn bullish
+1 Reply
ridethepig realSatoshiNakamoto
@realSatoshiNakamoto, Sounds about right... GL
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