creedyincredible

btc exit pump on the way

Short
BITFINEX:BTCUSD   Bitcoin
yesterday we breached the support level of 3750 completely, despite bulls try to defense the bottom line 3650 but less volume follows up. We might entered the final capitulation phase.
Take the neckline 3750 as a pivot, we have roughly 700 dollars movement upwards. simply playing the maths we would like to find some support at around 3050 region with a possible wick under 3000 (likely to be 2800-2900), This is the my personally target for the downtrend since 6600. it may takes some time to accomplish.
don't fooled by the bulls, we are not reaching the accumulation phase just yet. it's just cool down of the indicator for the moment, we are likely to see a pump towards 3500+ and then more downside movements.

regards

Forex & Crypto day trader
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