Morning guys,
Sorry for silence, but actually it was nothing to comment here. The triangle that we've discussed last time indeed was broken up, but this breakout appeared to be very short-term.
We need to check the bullish ambitions of the market. Shortly speaking long-term perspective stands in direct relation to Mr. Xi rally. If BTC will able to keep it - it will continue upside action to 15K and above. If not and Xi's rally will be erased - first target is our daily XOP around 6.4K.
Thus, in short-term perspective our task is watch for retracement. Now we have different AB-CD patterns here, one of them I draw on the chart. Market is forming "222" Buy pattern. Our checkpoint is ~8.5K 5/8 Support level which agrees with AB=CD target. This is potential level for long entry as well. 30% bounce should happen at least.
If BTC will keep falling under 5/8 Fib level, coming back to the bottom and erasing of Mr. Xi rally - this will be bad sign.
For those who want to know how all this stuff involved in long-term view - you could watch the video on our website.
S.
Sorry for silence, but actually it was nothing to comment here. The triangle that we've discussed last time indeed was broken up, but this breakout appeared to be very short-term.
We need to check the bullish ambitions of the market. Shortly speaking long-term perspective stands in direct relation to Mr. Xi rally. If BTC will able to keep it - it will continue upside action to 15K and above. If not and Xi's rally will be erased - first target is our daily XOP around 6.4K.
Thus, in short-term perspective our task is watch for retracement. Now we have different AB-CD patterns here, one of them I draw on the chart. Market is forming "222" Buy pattern. Our checkpoint is ~8.5K 5/8 Support level which agrees with AB=CD target. This is potential level for long entry as well. 30% bounce should happen at least.
If BTC will keep falling under 5/8 Fib level, coming back to the bottom and erasing of Mr. Xi rally - this will be bad sign.
For those who want to know how all this stuff involved in long-term view - you could watch the video on our website.
S.
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/
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.
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/
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.