llywellyn

New BTC Fractal - Pullback!

Short
BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
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11
The last fractal worked pretty well right up until it broke out. I thought it had just broken away but after looking at the chart again, there is a better fitting fractal for now. Thanks to that massive fomo wave we'll probably get a deep pullback now. be on the lookout!
Comment: based on the current look i'm not sure we're quite ready for this move. appears we have an extended wave & could see another thrust upward before a sharp pullback like this. using a fractal it may resemble something more along these lines
Comment: actually it's possible we could be getting something so ignore last comment. there are a few ways this could go - currently i'm expecting to still hit a higher high but we'll have to just give it some time & see if it's ready for a legit pullback or just a temporary reset.
Comment: looks like we are getting a correction now. in addition to the scenario in the chart, something like this is possible too - all depends on how it reacts to the 7800 level
Comment: bitcoin looks to be putting in an ABC. typically we would look in the box for targets but bitcoin sometimes prints short Cs in bull trends so if you are short I would be conservative in your target.
Order cancelled: Definitely was not ready for this move - had this fractal off by a wave - likely another wave up before the pullback

Comments

Great job!
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