I first bought in at 5950, per this plan:
I have been closing pieces of my long position above the 7100 price, and each fib it hit above that price.
I am thinking it in nearing end of cycle, and getting ready for a correction.
Let see what happens at 7409.24, a 9.618 extension of the initial impulse.
It was approached and rejected at 7402, so it might now blow through the 7409....
Even after the massive pullback, the resonances are proving their validity
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On the flip side the shorts went crazy high at $7200, we're loaded heavy with shorts, any further up and it could quite easily trigger a short squeeze that shoots us straight up through the long term downtrend line, which in turn would trigger new buyers to come in.
Interesting zone, ive been out since about $7000 waiting for a re-entry