Over 10k BTC shorts have been opened in the past 2hrs by a whale on Bitfinex. Most of Crypto Twitter super bullish.
I'm calling for a dump.
Not financial advice at all, simply a scenario.
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If we break out of this rising wedge, my TPs will be at $6800 and $6600.
I also have a scenario B which would take us to $7470 for a wave 5.
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Possible Parabolic curve in play as well
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First drop to 7100, opened a long scalp at 7114 on wedge and cloud support. Expecting wedge to be broken in the next day or two.
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Trade closed: target reached
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This has truly been a magnificent trade to be a part of with a drop of over 13% in the past 4 days since posting this idea. I have now closed all of my shorts and opened a small long scalp off of the cloud support at $6380 on Bitfinex, but I will also be closing that position soon as well.
I am very happy that I decided to not listen to the many who called me crazy and to the certain someone who called us "Low IQ" for thinking it would drop. lol