BTC ANALYSIS

Dear SteemIt users,

Its been a while since I last posted my count, however, I've decided I want to keep everyone updated.
I've been holding bitcoin short since about 9670 and I'm planning on holding lower with most the big influencers saying it's not going any lower.
This is the chart I've been playing for awhile and my count beginning to make more sense and hoping for the bounce to go lower.

I last updated the chart yesterday however overnight it played out how I planned by a move upwards. I'm hoping for a bounce at the 0.5 fib which happened but wasn't bearish enough and a move slightly further up looks likely. Maybe to the golden pocket zone of the 0.618-0.65 or even to 0.786 region which looks to be in conjunction with the downward resistance.

Targets

I do believe this is going lower and the elongated green boxes are my targets. With the top 2 being most likely and the lower one being a hard support if the price plummets.

The 1st green elongated box (8430) is a horizontal support for wave 1 and the 1:1 extension of the A wave. This double correlation adds strength for people to buy. It's a good area to start laddering your buys.

If that support breaks expect...

The 2nd green box (8080-8200) is where I most expect the bounce to occur as it's a healthy 0.5 fib retracement and an estimate of where the 1.618 of wave 1 will hit (more information of where the wave 2 finishes are required before a more accurate number can be given)

The pink lines on my chart are where I've set buy orders. To close my short.

Peace, Love and Crypto