I changed around some numbers for Bitfinex traders.. gotta love Tether.
I expect we continue from my previous idea here:
. The recent pump has NOT changed ANYTHING until we can manage to break the red line on that chart, until then I will only be adding to short positions. However, if we do manage to continue the climb price, I will have to reconsider my assessment. NOTE: I AM bullish on btc in the medium term, just not in the very short term(~1 week).
What we're looking for is a nice bear trap down to the .382 fib. I expect us to break 3650, but it's very important that it's not for a long time. If we stay under the .382 for more than 24 hours, I will be closing longs, and looking for entries around the 3-3.2k level.
However, a drop past the ~3500 level is very unlikely. There is an abundance of buy support at the 3.3, and even more at 3k level that will very likely not get filled until much later on (Q2 of next year). We are using the support from those areas as cushion for another push up.
I believe if we see another bounce past 4k, from any level, real FOMO will start and we should be seeing north of $5k btc , but I will not be underestimating the FOMO bulls, they will probably take it much higher.
Good luck to all.
I expect we continue from my previous idea here:
What we're looking for is a nice bear trap down to the .382 fib. I expect us to break 3650, but it's very important that it's not for a long time. If we stay under the .382 for more than 24 hours, I will be closing longs, and looking for entries around the 3-3.2k level.
However, a drop past the ~3500 level is very unlikely. There is an abundance of buy support at the 3.3, and even more at 3k level that will very likely not get filled until much later on (Q2 of next year). We are using the support from those areas as cushion for another push up.
I believe if we see another bounce past 4k, from any level, real FOMO will start and we should be seeing north of $5k btc , but I will not be underestimating the FOMO bulls, they will probably take it much higher.
Good luck to all.
