BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
BITFINEX:BTCUSD
Ok, my last idea has pretty much hit its target now so i thought i should give you an update on what my thoughts on where we head next.

I mentioned in my last post that i thought we were in a transition period between phases. Welll i am now almost certain of this. Because of this i am alomoist certain we will at the very least be moving back to 8000 again. This is where i have 3 scenarios, so i will ladder my exits from my long positions at 25% 8000, 50% 8600, and if we get there 25% 9700. I feel that 8600 is the most likely place we will start phase 4.

It is worth noting that if we beat 8600 then phase 4 i expect to be the first phase of a bull market, if it does not beat 8600 then i expect phase 4 to be another bearish phase that will see new lows. But thats getting well ahead of ourselves. This TA is simply for the next BTC move.

So for this move i will be looking to enter at 7400-7500, lower the better obviously. This idea is invalid at sub 7300 and I will exit for small loss
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