Despite the rabid-mongoose energy of Friday’s short-squeeze rally, I’m unpersuaded that this vehicle will not come down to d=97,616 before it stages a meaningful reversal. Regardless, I’d rather do my buying down there, even if we are forced later to attempt it at a higher price that will require more care and effort. In the meantime, we can test the integrity of the pattern by ‘mechanically’ getting short at 108,404, stop 112,001. We would be shooting for a one-level profit on a pullback thereupon to p=104,808. The trade is recommended only to those who are familiar with my tactics and comfortable using them.
BTCUSD – Bitcoin (Last:104,579)
