CFcryptoTA

BTC breakout

Long
BITSTAMP:BTCUSD   Bitcoin
Are you guys ready? If you have been following me for the past month, you know I was calling the local bottom at 37-39 k. Here we go. Although I thought BTC was going to pull one last fake out, instead the bulls stepped in. It is now starting to accelerate upwards. The first significant resistance is at 47500, I expect a minor retracement at that level to complete a minor inverse head and shoulder in the hourly frame. The next big resistance is at 50k. There BTC will stall for few days and retrace to complete the daily continuation inverse head n shoulder as expected (cup n handle as well). From the breakout of the 50 k area I see BTC accelarating to complete the 3rd Elliott wave of this short term trend reaching 90 k by the end of november. In there FOMO will heavily start to kick in and retailers will flood in with institution releasing a bunch of bullish news. The price will accelarate further, but will start to show signs of exhaustion culminating in a blow off top at 165 - 180 k in january which will then start the multiyear bear trend.
I will release lower timeframes analysis day by day, so be sure to FOLLOW me so you get updated.
Seatbelt on please.
I will start exiting heavily at 90k (40% off the capital) and will take gradually the rest out on the way up to 165k.
REMEMBER DO NOT BE GREEDY, THE PROFIT NEEDS TO BE REALISED OTHERWISE IT IS NOT PROFIT.
Always do your own analysis, no financial advice.

CFcryptoTA
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