Short term target $17000.
I will then sell and wait, watching closely.
The bloodbath would be devastating. Then followed by a massive rally like we have not seen yet.
From $6000 to $50,000 in one year!!!
We will now be testing that neckline over the next couple of days which also happens to be our 50% Fib retrace.
I have been expecting an 80%+ correction soon.
This could be it if that neckline breaks before mid-Jan.
Short term target still 16.6k if hits that soon before the new year. Then sell.
Jan 10th re-buy target 8k.
Sold yesterday at around 16k. The risk reward was not worth my holding onto.
NEXT TARGETS: 6-10k
I will probably start buying back somewhere around 10k. We should bounce quite a bit there. I may look for a quick trade here. Buy at 10k and sell at 13k depending on price, time and pattern.
Then down to 8k I will buy more.
At 6k (if we get there) I will most assuredly be ALL IN!
Good luck traders and HAPPY NEW YEAR!
If we break up, I think my head and shoulders pattern will become invalidated.
If we break down, look out below!
Once mid-January comes, I don't care what the charts tell me, I will be a buyer again! Time cycle will over-ride chart patterns at this point.
Good luck traders!
To the moon we go!
Trade carefully friends! We still could be forming that right shoulder that I warned about before Christmas. And we still could hit those lower targets after all!
Easier said than done. But today's touch of $6000 was all the confirmation and proof that I needed.
I believe we touched our low today. Maximum capitulation. Now on to $50,000!