btcusd
Updated
This is a closer look at the fractal. If btc follows its 2014 movement, then a double bottom around $6,500 should be created before a short-term reversal.
Trade active
Here are more precise targets if we work off this fractal:Target for short: ~$6,500
Then target for long: ~$8,100 (or a bounce off EMA200)
Then target for long: ~$4,500 (~May 1)
=> reversal of this bear market.
Comment
*target for short ~$4,500Trade active
1st target of ~$6,500 ($6,502 so far) reached. Let's see if btc bounces up. Buy volume is still lacking though.Comment
BTCUSD shorts are at all time high -> a possible short squeeze might be incoming which would be in line with a spike in price as shorts will be liquidated.Trade active
We have already seen a moderate move upward. Looking at the chart more closely, I would amend the second target to be around ~$7,800 as there is heavy resistance around that area.Comment
Just a note that the fractal would be invalidated if btc broke 9k (i.e. the downward trendline from 20k). Btc seems weak so I am still expecting a reversal downward toward ~4k within a day or two.Trade active
2nd target reached. This was crazy. Just crazy. What should follow now is a move down to ~4k. Comment
Update on the fractal: Pink is the current price, blue is the fractal from 2014: 
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.