Chart is pretty self explanatory. I expect a relief rally here to 7700ish, and this to be a smaller rally than the previous ones before a further break down and retest of the 5100 level, which would basically cause capitulation all over in the crypto world.
From the 5100 - 4900 level I expect the price to reverse before the end of the year and reclaim 9k, or 10k.
If the releif rally breaks the 7700 level then we have a successful reverse from a three drives down pattern.
Here is the second chart with the three drives down shown (Purplish Pinkish)
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I am still expecting a relief rally to 7700. However as you can see in the chart above, I am very well aware 5100-4900 is a very possible level. Buy the blood, and buy some more lower. If we break 7700 upwards, it would be a confirmed reversal (for me). Follow me on twitter for more updates.
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So far ... so good.
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We be grinding that support.
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Lift off.
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6900 should see a sell off.
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No sell off needed ... straight up ... chart looking very very good. Waiting to take more profits at 7700 and then go net short at the 8200 level.