BTC Dropping.... Capitulation in 2-4 hours
Updated
Fibs are a beautiful thing. I naturally gravitate to beautiful things. lol...
Anyway, posting this for my own records. Fib extension perfect to .382. Bounced twice. 10,125 is a tough resistance price.
Every time we've hit the bright cyan lines of the fib circle, BTC capitulates. I don't see why this would change in a downtrend. So in about 2-4 hours I'm thinking BTC will drop to the .5 level of 9520.
Shorted at 10,133 and stopped out at my first target 9890 over night.
Going forward with a new targets....
1) 9859 (thinking it will hold here for a brief retest, but with the fear and greed index in the red and capitulation I think it will breakthru.)
2) 9520 (.5)
3) 9182 (.618)
My two BTC's.
Anyway, posting this for my own records. Fib extension perfect to .382. Bounced twice. 10,125 is a tough resistance price.
Every time we've hit the bright cyan lines of the fib circle, BTC capitulates. I don't see why this would change in a downtrend. So in about 2-4 hours I'm thinking BTC will drop to the .5 level of 9520.
Shorted at 10,133 and stopped out at my first target 9890 over night.
Going forward with a new targets....
1) 9859 (thinking it will hold here for a brief retest, but with the fear and greed index in the red and capitulation I think it will breakthru.)
2) 9520 (.5)
3) 9182 (.618)
My two BTC's.
Note
Wow. Look at that. So exciting. What's going to happen? Ahhhhhhhhhh!!!! 
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.