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Rachel_T
Oct 27, 2019 9:27 PM

Dump the Pump? Short

Bitcoin / US Dollar Perpetual Inverse Swap ContractBitMEX

Description

When bulls cheer, its time to tear them down
Comments
shanestaring
looks Good man I would’ve had a more creative caption personally :P only kidding, but the chart looks good
shanestaring
@shanestaring, I assume you’re waiting on a confirmation first though right ? I wouldn’t sell yet until we get a drop because rn we’re in a bull ful
shanestaring
@shanestaring, bull flag *
SmartMoneyDayTrading
Think we will be making a double top on this call at best will this chart. Will need a very strong correction from 10120 and even then that still puts us at the 0.782 fib level wich could indeed turn out to be a brilliant set up for a 3 drive divergence on the rsi there for creating the double top and the 5th wave before the real correction.

On the positive side we can consider the "real" correction to be shallow considering this impulse from wave twos lows was so powerful and parabolic. This would give us a re entry around the 8-9 k region before a retest of 20k and a possible rejection at 21k follow by a years bear market/ consolidate period/ accumulation phase. This is based on advanced elliot waves, rule of alternation, April's 3 drive divergence fractal setup Nd todays fundamentals at play right now for this asset class and the worlds economy right now.
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