Spablauw

BTC fib projection

BITFINEX:BTCUSD   Bitcoin / Dollar
Overall I dislike the sentiment in BTC             . Still to many people bullish and willing to buy a dip. I was previously looking at the 580-600 area to buy. But I don't like the way price is reacting so far.
I heard a lot of people saying; everybody is looking to buy 590, so we might not get there. Well if everybody buys 590, but price gets pushed lower aggressively, people will be scrambling to cover their longs. Creating the perfect opportunity to go long for the big players.

So far I'm not taking a position and keeping this idea in the back of my mind.
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