candlestickninja

don't get caught at the top again

Short
BITSTAMP:BTCUSD   Bitcoin
don't get caught at the top again, my 5 waves are easier to see on the daily timeframe (posted an analysis before the current fake out rally like a week or so ago).. Anyhow, massive bearish divergence occurring, may get intraday rallies towards 60k, but the risk reward of buying into this is high. I expect a retracement with a relatively short term bounce above the .236 fib level at 50k psych support, then a fall to .382 and another bounce, 50% isn't a real fib number so I'm not sure why I still use that thing. Ultimately a settling and consolidation at .618 around 30k should be a nice support level, but depending on fear and selling pressure we may see 20,600 before truly basing out, but then I feel we will get a massive runup that will exceed 100k but it will not happen until late 2021 early 2022 - disclaimer... it's possible that the wave 5 that I drew is a wave B of a complex or expanded flat wave 4 correction, but this high order technical divergence tells me it's not

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