Thegreatomski
Long

BTC bullish projections

BITFINEX:BTCUSD   Bitcoin / Dollar
By making another all time high, bitcoin             has confirmed the following projections.

A=5400
B=7589
C=6917

N=6917+(2189)=9106
E=7589+(2189)=9778
V=7589+(7589-6917)=8261
NT=6917+(6917-5400)=8434

This wave, frankly, looks like an E wave. But I will take profit at the N target because I like to limit risk.
Kommentar: It appears that bitcoin has just about reached our E target.
While it is getting less and less likely that it will continue rising, we must prepare for the event that bitcoin does decide to ride past our E target from this previous trade


For this reason I have created these updated bullish projections for bitcoin.

However we must keep in mind that we are in a place price-wise that I would consider "top-heavy" or simply meaning it has a lot of people holding it that are feeling like they want to take profit. Because of this I have doubts of the bull's ability to maintain control. In other words, *this trade may fail*
Trade geschlossen: Stop wurde erreicht: BTC went down hard. May he R.I.P.
Sweet dreams, gentle prince.
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