Morning folks,
So, BTC confirms our suggestion of weakness and slipped a bit lower. It is big temptation to think about possible upside reversal, treating this price shape as "222" Buy, or even potential double bottom, but I wouldn't hurry up with this conclusion.
In general, I would wait for more bullish signs. If this is upside reversal indeed - market very soon will make itself evident. With major upside target around 37-38K area, we should have a lot of chances to step in, once upside action starts.
Besides, we see few tricky moments here. First is, price performance on daily chart, that re-tests achieved 26K target. Second, here, we have "222" Buy, but CD leg shows acceleration that is not good sign for the bulls.
All in all, at least for me, bullish context is not sufficient, and I'm afraid that "222" easily will shift to butterfly with 25.3K target that we've considered last time. You could not sell, but be aware of taking long position too early.
So, BTC confirms our suggestion of weakness and slipped a bit lower. It is big temptation to think about possible upside reversal, treating this price shape as "222" Buy, or even potential double bottom, but I wouldn't hurry up with this conclusion.
In general, I would wait for more bullish signs. If this is upside reversal indeed - market very soon will make itself evident. With major upside target around 37-38K area, we should have a lot of chances to step in, once upside action starts.
Besides, we see few tricky moments here. First is, price performance on daily chart, that re-tests achieved 26K target. Second, here, we have "222" Buy, but CD leg shows acceleration that is not good sign for the bulls.
All in all, at least for me, bullish context is not sufficient, and I'm afraid that "222" easily will shift to butterfly with 25.3K target that we've considered last time. You could not sell, but be aware of taking long position too early.
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/
Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
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/
Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.