BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Congrats on Breaking 11k ! Now there are 2 possible scenarios:
- we're on the fifth elliot wave and need to retrace gently to the first 0.236 or much better 0.382
- we're rushing to the second fib and reach 11.7 but at this point there's too much resistance and we flash crash to 10k + panic so around that red line (9930).
I don't expect a gentle retrace at 11.7 because it would be so anti-btc.
This is healty, we need a retrace: panicked or gentle.
I'm still looking for that second test on the bottom, taunting me. but that's impossible.
Those resistances at 12, 12.7 seem reallly high even though we're gaining volume .
Comment: We stopped at 11250 with a not so gentle retrace at 0.382, now waiting for the three correcting waves for a possible entry.
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