BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
68 6 0
so basically I think a ABC correction to 300s is over and we're back in the downtrend(was hoping the downtrend was over but hey ho).
and in that picture I reckon we're in wave 4 of 5 ... trying to catch the top on that: not expecting this to top out til settlements fuckery is over tomoz, so accumulating shorts as we go. Not really expecting for this to rise much further than 270 though: I capitulate on this count if it does.
ok so I am coming round to DanV's current(which last a few hrs til he switches) count : I think we have seen a textbook 5waves down, so now its time for chop/zigzag ... I am pretty sure 260 will not be breached before a 1week long correction atleast:
The large %ge of L33Tshorts on ok okcFuts is just way too ominous for me to stay too short: Gunna start closing my short term shorts and reduce my qtrly short for a better shorting opportunity around 280-300s hopefully: pigs get slaughtered hehe
Still think the downtrend is back in play though, major capitulation required before hopefully we have moon shuttle conditions :(
Hard to be sure of direction this close to the first ever real trade on GBTC tho I think it will initially put only downward pressure on BTC prices.
kumarz kumarz
I meant won't breach 236, not 260 ... tho it is looking more likely now it will breach hehe ... still not had the balls to close any of my shorts but I must !
i reckon we're trying to breach this trendline on the hourly ... will probly break after sufficient tries
kumarz kumarz
so that trendline broke but not decisively, finally frustrating bulls for a mini crash ... good thing I held on to my shorts: it was a close call, I was getting rekt and almost got margin called!
gunna rethink the count in a bit..
still think the downtrend hasn't reversed, and this is headed for lower lows. Currently I reckon we're seeing a abc upward correction which seems to have stalled at 50% of wave 3, but if it rises further than 272 this count is invalidated I suppose.
quickly adding a little fib spiral experiment to go with this plan:
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