Looks like the next bitcoin short is setting up. Targets down in the 12000s.
My last short setup worked out pretty perfect. See my related idea.
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Looks like it is doing a full half way back. Highs to recent lows full 50% retrace.
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Sellers came in as expected in the 16600 area. Now we will see if buyers support the recent rally. Possible re-test of sell zone.
A break below 14900 area would indicate sellers are in control and buyers have lost control and short should trade to targets in the 12000 level.
A break below 14900 area would indicate sellers are in control and buyers have lost control and short should trade to targets in the 12000 level.
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Buyers capitulated and sellers gained control. We will likely the hit the mid 12000's and could easily hit 10k area for a full %50 pullback from the all time highs in the 19000s
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With futures now open we rocketed back up into the full 50% sell zone. Let's see if sellers come back in. Until Price breaks 17500 buyers are not fully in control.
