Morning folks,
So, market starts reaction on 83-85K resistance area. But we suggest that preparation process might be more extended and BTC could flirt with the top for some time. Speaking practically, we have a few bullish grabbers on daily chart, suggesting that some spike above the recent top should happen.
Thus, the most probable way and shape of the reaction is the butterfly pattern. At the same time, bulls have to hold 79.5K lows to keep this scenario intact. Otherwise, deeper drop starts.
So, for now we do not consider shorts by far. Long position taking cares some risks but market stands close to invalidation point so the cash risk looks relatively small, which makes the setup to be interesting.
So, market starts reaction on 83-85K resistance area. But we suggest that preparation process might be more extended and BTC could flirt with the top for some time. Speaking practically, we have a few bullish grabbers on daily chart, suggesting that some spike above the recent top should happen.
Thus, the most probable way and shape of the reaction is the butterfly pattern. At the same time, bulls have to hold 79.5K lows to keep this scenario intact. Otherwise, deeper drop starts.
So, for now we do not consider shorts by far. Long position taking cares some risks but market stands close to invalidation point so the cash risk looks relatively small, which makes the setup to be interesting.
ForexPeaceArmy BTC analytics :
forexpeacearmy.com/r/author/11/sive-morten-blog
FX, GOLD:
forexpeacearmy.com/community/forums/sive-morten-currencies-and-gold-video-analysis.122/
forexpeacearmy.com/r/author/11/sive-morten-blog
FX, GOLD:
forexpeacearmy.com/community/forums/sive-morten-currencies-and-gold-video-analysis.122/
Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.
ForexPeaceArmy BTC analytics :
forexpeacearmy.com/r/author/11/sive-morten-blog
FX, GOLD:
forexpeacearmy.com/community/forums/sive-morten-currencies-and-gold-video-analysis.122/
forexpeacearmy.com/r/author/11/sive-morten-blog
FX, GOLD:
forexpeacearmy.com/community/forums/sive-morten-currencies-and-gold-video-analysis.122/
Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.