JohnnyTH
Short

Get ready to trade ABC of the Bitcoin rebirth

BITFINEX:BTCUSD   Bitcoin / Dollar
We just hit the bottom of 6k of BTCUSD             and we are starting a new cycle. On the sublevel we are completing wave 5 that will bring us to the ABC final part. I see a good shorting opportunity from point 5 to point A.

After our ABC correction we will hopefully see a very strong growth that will bring happiness and wealth to all of us, we all want BTC             to rise after all, even we short it from time to time :-)
Kommentar: We reached our sell area, we might climb up to 8.8k even 8.9k as the uptrend volume was good and very bullish, either way the profit should be on the retrace.

My initial target is 8.2k to rebuy, I will refine it on the way down.
Trade ist aktiv: As expected the very bullish trend pushed the price a little longer than my short opening target, so the trade suffered a bit.

Now I see the correction started as expected, I might have to adjust the close target accordingly, safe expected closing targets:

1) 8600 USD
2) 8400 USD
3) 8200 USD

Extreme targets:

4) 7800 USD
5) 7600 USD
6) 7200 USD

In case the dump becomes stronger than expected:

7) 6000 USD (forming a double bottom with previous low)