Morning everybody,
So, overall tendency and sentiment is positive on BTC market (although we're skeptic on major reversal idea due to fundamental reasons). Technically market should not have any big problems to reach 25.5K area - next solid resistance.
But, there few moments that make it tricky. First is, as EUR as Gold now stand at strong resistance areas. EUR is at 1.0942 weekly 50% Fib level, while gold is at 1950 monthly overbought. Second - today we get GDP and PCE numbers. If they will be poor, investors will be scared of recession that will trigger demand for US Dollar, at least in short term.
That's why, by these reasons, and also because here, on 4H chart we also have some signs of weakness, we prefer to wait for some pullback.
So, overall tendency and sentiment is positive on BTC market (although we're skeptic on major reversal idea due to fundamental reasons). Technically market should not have any big problems to reach 25.5K area - next solid resistance.
But, there few moments that make it tricky. First is, as EUR as Gold now stand at strong resistance areas. EUR is at 1.0942 weekly 50% Fib level, while gold is at 1950 monthly overbought. Second - today we get GDP and PCE numbers. If they will be poor, investors will be scared of recession that will trigger demand for US Dollar, at least in short term.
That's why, by these reasons, and also because here, on 4H chart we also have some signs of weakness, we prefer to wait for some pullback.
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/
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.
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/
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.