My initial short targets were based on the 50, 100, and 200 EMA's and although they have changed since my original call back in July; we have (locally) bottomed within $20 of my $6,550 final short target.
We have already gained +11% and reached Target 1 in less than 12 hours on this move! Although it could continue to rally in the coming hours; I have just taken profit on the majority of my margin longs from $6,500-$6,600 @ $7,200-$7,300 before writing this and am on the side lines awaiting a potential short-term retrace in the coming hours to get back in. The Daily Tenkan is marked in orange and Kijun in white on my chart; with the Kijun sitting right around ~$8,000 at the time of writing 11/25/2019. In my experience BTC tends to fairly dependably come back and touch the Daily Kijun.
We came to a high of $7,870 on Coinbase; just a bit over my T2 target of $7,700 and just shy my Daily Kijun call which sat at $7,997.
Either way if you followed my long call and took proportionate profits at T1 and T2 with healthy stops you should have made out with a healthy ~4.5-17.5% profit (depending on whether you entered $6,550 or $6,800 and whether you exited $7,100 or $7,700).
It seems Bitcoin is attempting to print a head and shoulders reversal pattern to the upside on the hourly chart. We have broken out on this rally to $7,700 and this fall to $7,250 would be the attempt at re-testing the neckline and downtrend lines we broke out from.
I will look to re-enter a small to medium sized long on these areas of support potentially with a pretty tight stops if it breaks below this range.