80% Chance of a SHALLOW Drop Here Before Going to Higher High!

You will see a very strong case for this current drop to be SHALLOW (likely no lower than $10,951 but may only go down to $11,2xx) laid out in this video. We STILL have a chance to go higher than $13,071 "AFTER" this shallow drop. Meaning, we can still go up to $14,611.32 or even as high as my Bitcoin CME Futures 1.618 FIB Extension Range between $15,825 and $16,240. I'm leaving this publication labeled as NEUTRAL because we are still bearish for the NEAR TERM but still bullish for the MID TO LONG TERM.

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UPDATE:

If we were to go up to $16,132.52 and fall back down dramatically to $9,738.15 on Bitstamp, that would be a 39.64% drop. That is a "common" pullback in Bitcoin. If it pulled back that far on Bitstamp, it could easily pull back to fill the gap at $9,615 on the Bitcoin CME Futures.

Am I saying, "We will fill the CME Futures Gap" by making this statement? No... I'm simply pointing out the possibilities...

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UPDATE:

More "Longs" are being "spooked" on BitFinex and "Shorts" are still unsure... It makes sense to me to see an "Up Thrust" soon to squeeze shorts WHILE lulling in margin longs on the pump with some FOMO; only to slam it back down to fill in the Bitcoin CME Futures Gap while liquidating longs. Just a thought...

BTCUSD - BitFinex (Top); BitFinex Bitcoin Shorts (Middle) and BitFinex Bitcoin Longs (Bottom):

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UPDATE:

We "might" have already found our local bottom before potentially moving up. I need to have a look and do another video publication...

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UPDATE:

A "NEW" video publication is currently uploading. Once uploaded, I'll create a title and add a couple of charts and remarks in the description. THEN I'll post the video publication. This may take up to 10 more minutes. I'll also work on a publication for Cardano (ADAUSDT) after BTCUSD is completed.

Stay Awesome!

David