DariusAnucauskas
Short

Bitcoin - Daily - Time for a little vacation?

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
I keep saying all the time, that this is a perfect chart, that follows the textbook rules.

I think it's time for a little vacation for this one. The trend is a bit steep, which means that it would be a good time to test it.
The possible area, where this crypto could fall to would be around the September high at around 4979.90, which is around the possible touching point with the trend line .

Another thing to watch here, would be the Elliott wave count. If my measurements are correct, this has been Wave 5 that we have completed. If so, then in theory, we should looking for an ABC retracement.
Now, I have drawn a potential ABC move on this chart, but I understand that this is a very pessimistic outlook. Nevertheless, I am keeping this idea in y head. I will be looking at this scenario only if we will close below that steep trend line that I was talking about previously. But one step at a time.

And this is the part, where all the crypto lovers started throwing their chairs at me and giving me all the "Booooo..." and stuff like that.

As always, keep an eye
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