I have had a long term strategy for BTC since it was at $17 000 and I was able to predict very accurately all of its move which proves to me that my initial assumption about BTC doing a 5 waves down was and still is true. All the waves I predicted happened and now I am predicting the 5th and last wave. The 5th wave of an Eliott Wave pattern has to take the bottom of the 3rd wave (which bottomed at $5900). Now based off of this idea we have to look at levels on BTC and the first tangible level right under $5900 is in the $4700 area meaning I am left to believe that BTC will visit that price area.
TA wise we are now looking for a reversal pattern/confirmation and the daily may very well give us one in the next hours. We are looking for a candle meaning if today candle close lower than the starting point of the candle of yesterday (under the red line on my chart) then we have a reversal pattern confirmation and we can expect at the very least days of price reduction.
I would not be surprised if we get a bunch of bullshit news in the upcoming 2days to drive people crazy and help the big boys drive the price down. If BTC drop below $10 000 today then dont expect it to recover. Chances are its going down and it will be FAST.
BTC is still VERY to me in the long term and this could be the best entry for BTC you will ever get. You can refer to the Related Ideas on this post to see that I did in fact predict the moves on BTC .
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To me BTC price movement today is a bull trap. Nothing else. Stay tight!