sngyuchao

Bitcoin short: pending breakdown

Short
BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Since my last posting where I mentioned that btc is going to crash, it had fallen by more than 10k. Now that btc is at a very strong support , there is actually a chance that it will rebound. However, if my Elliott waves counts are correct, that will not be the case. What this means is that I think it will crash even more. What I will want to see for this to happen is that at this critical support, price range is small and spends quite a while here. Period wise, 2-4 days will be sufficient. The reason for this is kinda like a trap to lure buyers in such that the eventual crash will have more power.

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