BTCUSD Fractal points to a lot more downside, eventually.

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
I am not going to re-write ALL the callout boxes in the body of the post, but I will go over the differences and other points and point out emphatically that we are on support on the lower limit of the weekly Bollinger band , and the 100w SMA , and so I don't think our very next move is to the downside, but we will go up first. I have stated my intent to short the break out and it has taken a bit longer for the break out to occur than I initially planned. But my main trade I am looking for is to short this break out. I have taken a few relatively small long position in other coins in the mean time.

1.The first fractal did not have the Bump and Run Reversal Bottom that set the lower high we saw at in June of 2019. This means the way we got to support on the lower limit of the BB and support on the 100W MA looks different.

2. We still need to make some space on the lower limit of the Bollinger Band to reduce technical resistance before we go down and having the price action whip around provides a chance for the BB to start to channel downward.

3. In the first fractal we messed around near the 100W for about 3 months. Fractal 1 seems to be shorter in duration than fractal 2. Be patient, this may take some time to resolve.

4. Buying the base of the Bollinger Band is scary. Buying when we have wicked out the bottom is even scarier. Scared money don't make money though. If you are willing to be patient buying the lower limit of the 3 or 4 st . dev bollinger band can be a great entry point. The price can still go lower, of course, but you will be pretty close to buying the bottom. It would be very easy to get liquidated if yo do it with margin though.
Oct 25
Comment: So far we are getting rejected right at the 20w. There is still the possibility of some upside movement, my latest post shows that, but right now this seems to be the controlling chart. If we cannot mount the 20w then this spurt get flushed down the toilet.

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