![cypher.png](https://steemitimages.com/DQmWMcHcZyZD1WwYs1bg9GncW5N2h4YDscRPUEVongmxqP4/cypher.png)

I've been bullish since we bottomed out around 6.5k anyway, especially referencing my charts of BTCUSDLONGS and BTCUSDSHORTS, showing me it's probably healthier than it might seem. I use my somewhat complex(and currently very messy) analysis of those charts as very complex indicators of the BTCUSD chart. I have posted screenshots on twitter, here's [one](https://twitter.com/MyEmpireOfShit/status/994791755177488384), for example. They are currently too messy to post publicly on tradingview though.

>Update: A [more recent](https://twitter.com/MyEmpireOfShit/status/996922260463251456) comparison.

The targets for trading this cypher pattern would be approximately $8825 and $9250, the .382 and .618 of C to D. I expect it to pretty much blow right through $8825 as shorts get squeezed and a longer-term bullish trend is somewhat easily confirmed by most smart traders.

>Update: After hitting the low of $8000, the adjusted targets are $8750 and $9200.
>Another, almost immediate, MISERABLE UPDATE: after hitting another LOWER LOW of $7950, the adjusted targets would be $8725 and $9185. The cyper pattern is on the verge of getting invalidated at this point. I'll start to worry about the medium-term health of bitcoin IF we fall below $7925.

See how it unfolds [here](https://www.tradingview.com/chart/BTCUSD/PMSSWK54-Cyper-pattern-on-bitcoin/).

This is not financial advice... Do your own research, trade at your own risk, blah blah blah

-Tom