Recently, BTCUSDSHORTS set a new record, new highs. And from high 16.5% (~7150 BTCs fixed) has already lost and because of this - price growth. BTCUSDLONGS stays wickness Good picture by BTC will be in cause closed enormous quantity of short positions and increase of long positions. Technical Chart patterns - bearish : breakout the triangle , accumulation zone for the future impulse move downward(likely)! Volumes - descrise with growing movement (bearish). RSI - bullish : divergance and higher than 40. MAs- bearish. From now to the nearest target ~ -13%. BTCUSD think can reach 3900$ by Bitfinex - test the ex-support line and resistance. After it's going to visit target zone ~3000$.
That has to be one of the most in-dept chart's I've seen, great work! We are at a 92% win rate and took the short on BTC and ETH but I think we're due for a bounce at this support. Let's see!
Tangent1
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since you point to this pattern, is people somehow manipulating price because it repeats the same trend same percent of retracement or this is the end of the wave?
dont you see this as a 5-wave elliot pattern? because I do and this looks like the end of the wave 4 unless this is a double ABC?
PeacefulWarrior
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@Tangent1, I don't call/signal about long position to 3900, I just write what I think can be, and it would be very nice, but now we are at the support line and need to look at BTCUSD, maybe 4th wave has already played