The Long Term Short Squeeze is ON. Be Careful When Shorting!

I personally believe we are in the process of a long term short squeeze that's similar in price movement to what we saw in October, November and December of 2012 and July, August, September of 2013. If you insist on getting lulled into a short position, be sure to have a TIGHT STOP. Also be prepared to take quick profits without getting too greedy because I do not see significant deep drops yet. I'll follow up with another video update near the end of October.

Another reason I believe we still have CAUSE for this to go up is for the AFFECT on the price of ETHBTC, LTCBTC, ADABTC, etc... They want ALT/BTC pairs to be "AFFECTED" by pushing their BTC value down a bit more to accumulate more Bitcoin. This is my opinion of course.

We are slowly working our way into the transition to Phase E once this Back-Up/Last Point of Support (BU/LPS) is completed.  We know the transition has officially begun once we see a "Sign of Strength" (SOS) above $13,880 on BitStamp.  However, this may not occur until the second week of January, 2020.

Thanks for taking time to watch the video. I certainly appreciate your support!

Stay Awesome!

David

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We are slowly working our way into the transition to Phase E once this Back-Up/Last Point of Support (BU/LPS) is completed.  We know the transition has officially begun once we see a "Sign of Strength" (SOS) above $13,880 on BitStamp.  However, this may not occur until the second week of January, 2020.

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Posting a chart to see the FIB's a bit more clearly with another comment.

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Potential future price movement...

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Here's a look at the 3-Day TF to show what trading range we likely stay within until the second week of January, 2020.

Expecting the Green Daily 50-MA to act as support.