CFcryptoTA

BTC retracement update

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BITSTAMP:BTCUSD   Bitcoin
BTC has now started to pull back. I was expecting this, as you can see from my last two charts. It has now painted a bearish engulfing in the daily frame. This will likely last between 5 and 10 days. I expect BTC to start the rally on the 27 of October after touching the BB MA, ranging for a few days around the 56-57 levels. This is a price suppression from the institutions and whales before the full force run. They are accumulating at your expense and of traders new and experienced who believe this is the top. As you can see, the 50 days MA, the VWAP short and medium-term are creating a support cluster at 53k, so if we are lucky enough to touch that level, I will go apeshit in. In the LTF, BTC is testing the 4h bullish engulfing. I expect a bounce from these levels to 65-66k before flash crashing down to 57k. Do not stress because this is the normal retracement of the minor wave 1. When this is complete, we will have a violent run to 90k. Be ready.
If you haven't yet, check out my latest video on youtube and here, where I lay out the ultimate indicator to time the top and take your profit out in time before letting your portfolio bleed to death.
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