My short term perspective, is that BTC might go and test the $6600 USD again, and if it breaks, we might see $7400 USD, and visit the top of the triangle, or de can definitively break the triangle to the down side.
The shorts open in Bitfinex are at almost an ATH, the squeeze we saw recently didn't force much of them to close, and since them, they increased again...
I've been looking at this simetrical triangle pattern, witch might break in the next 12/48H.
The break migt come with the ProShares ETF decision, wich will be known next Thursday.
I'm looking at this wedge , if breaks to the upside, might be the begining of the short squeeze and the start of the wave 3. On the other way, if this breaks to the downside, i believe 6k USD support won't hold.
In my scenario 02, BTCUSD my be working in wave 2 of 5.
If the short squeeze happens, it will make the wave 3 witch might end at $7500 USD resistence, pull back and then wave 5 might die at the trend line resistence of the triangle or, if we still have shorts to squeeze, they might be the fuel that will help break the triangle to the upside, with an extended wave 5.
This is my scenario 01, one of two that i have at the moment.
We ended a 5 wave downwards in August 14th, with the $5860 low, and started an ABC correction to the upside, witch i believe will end at around $7100 USD, when the price hits the resistence of the 30 days moving average.
At this point we might start another 5 wave down, ending at ~$5500 USD .
If this...
