Here tracking the next impulsive wave to the downside in BTC . From a wave perspective here we are trading wave 3 of a 5 wave sequence, inside a larger sequence (see attached: "The 2017 highs unlocked") ... if you notice in this retrace wave (wave 2) it has happened with a very empty book ... or in other words there is no real money supporting the move.
Once again we can trade confidence flows, here this is a live example of smart-money letting the unaware continue to "raise the bid" on dreams of early retirement before another hammer . A test of the monthly open at $5,200 is in order.
Best of luck all those on the sell side.