BTC - Small chance we go to 10k and dump to 8500

Ok guys...

So in our current scenario, if we confirm our local pattern as a wedge, high probability that we go to 10k or even test the outer trend line at 10.2...

IF this confirms as a regular channel because we go down to 9.4 - then 9.8 is the highest we should see before dumping back down.

Keep your eyes open.

Comment:

Here is why I am starting to like the bounce to 10k theory:

It's going to catch everyone off guard...

Furthermore, I think that instead of a wedge pattern like I originally thought. We will likely be in a pennant pattern which will throw even more people off because they will think we are headed back down and it's safe to short again.

Uh uh...

What these markets love to do is take money away from dumb money. Most people think the obvious: SHORT SHORT SHORT. And yes, I will say I was inclined to think the same way... But I only make a decision on a trade once I can confirm it's likely outcome.

So knowing how much the market loves to liquidate positions. You throw a curve ball, fake left, fake right, do a little shimmy and catch most people off guard.

The move will need to be confirmed however... But this I can dang near guarantee: We will be getting to 8.5k this way or another.

8.5k is pretty much in the books at this point.

You have HUGE buy walls at 8.5k, every indicator is screaming 8.5k - so of course, you go back to 10k first to throw everyone off the obvious.

This is what it's looking like to me, and I'm thinking that they'll do a bit more than 10.2k just to throw people off, and that's where the .618 Fib happens to also be when trend lined for the 12345 impulse up (assuming that we hit 10k, resistance back to 9.8k and shoot back up past 10k.

Everyone is going to be screaming the bulls are back, people get into long positions at 10.2k...

BAM - pull the carpet again, banshee scream all the way down to 8.5k in a hurry before anyone knows whats even going on.