BeetCorn
Short

BTCUSD Bearish Butterfly + Bear Flag - 8250 Target in 48 Hours

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
First off lets start by taking a look at the nasty bear flag we had on Bitcoin             during the drop from 14300, which extends down to 9200.

We recovered pretty well on this bounce, to 13000 to be exact, meaning the bear flag should take us from that 13000 bounce, down to 8250 area, which coincidentally happens to land directly on the 0.786 fib support, and a STRONG support from the runup to All time high

This bear flag also created the X point on the Butterfly , while the rebound created the A point.

The "D" point is what we should all be focused on here, which coincides with the end of the flag pole, and the 0.786 fib level

With the recent FUD regarding tether, it seems "they" are trying to get us there.. Look out BELOW!
Trade closed: target reached: Target of 8250 reached, dipped even lower but i had already covered - opened a long at high 7's

I think we get a temporary uptrend to just under 10k
Trade closed: target reached: Target reached at 8250 - i closed there, we went lower and i opened a decent long which im selling off at 9650 - heres my updated prediction for the upcoming week:
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BTC- 3K3qRR2GwGV4zYBpv5CenM3W3SUmAN83QG
ETH - 0xABF07610A1a03111c546C879528B8E561a7dF3c8
LTC - MENmp4PLcSDB1MtUME8BdcmXXEMen24jQD
Off to a good start, todays drop brought us within about $700 of the final target. This recovery so far does not look too convincing, i think we go lower
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