My outlook on BTCUSD

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
My plan for BTCUSD is: short any rally from here onward. If price goes up, add to short, price rallies, add to short.

Target is the 0.786 retracement level at ~4300. This level is also the D target of AB = CD in which AB is the move from 10k to 5k7.

The setup will be disqualified if and only if price moves above 6800.

I have a ultimate target at 2600 which is the target for the descending triangle however that looks too extreme at the moment. I will re-evaluate when price reaches my first target at 4300.

I gotta say this is a very high probability setup.
Stay safe traders!
Comment: I just took 20% profit when it reaches 4813. Still watching very closely until 4300.

For those who misses the move it is too late right now. Wait for a good bounce to initiate short.