- We are moving in two perfect fib cannels currently. - green ABC waves = perfect 1:1 extentions - yellow ABC wave = 1:1 extention with the same target as the golden pocket - golden pocket (0.618-0.65 fib retracement) same target as the long term horizontal support - 7000$ would be a perfect retracement target
PS: Technically, we are still in a bear market. The last pump was only the retracement of the last big drop and only caused due to the Bitfinex/tether 400$ fake premium over a month. The is still no real fiat flow into the crypto space. The average Joe has forgotten about Bitcoin . (and no Moneyflow into Alts)
Long time my friend, Good analisys! Whats your short stop? 10500?
MuffyPuffy
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@Bragabra, Hey, depends were we are. Above the fib channel we would confirm an inv. Head and Shoulders und would head bullish. i think most guys will have a S/L at nearby 10500. That's a potential short squeeze. My S/L would be even tighter at nearby 10400. But overall, i will adjust it on the fly depending on the candles.
Bragabra
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@MuffyPuffy, yeaaahh agreed my man. I'm more focussed on ALTS right now, seems like alot are about to make a nice run. plus btc dominance is facing some mad resistance atm. goodluck on your trade !
MuffyPuffy
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Sorry for the indicators. Don't know how to turn them off if I want to puplish an idea.