Morning guys,
Miracle has not happened, (to be honest we don't count on it too much) as market has failed to complete our AB-CD pattern and dropped after it has failed to break trendline on hourly chart.
Now, again, theoretical chances exist with action to 4200$ by AB=CD retracement, as market has two bullish grabbers on 4H chart. But my suggestion is - appearing of butterfly with 3000$ target looks more probable.
In fact, if market has failed to break trend line on good uspide pace that was yesterday, today, chances to do it look phantom. BTC has negative fundamental background and from technical point of view, it has only one support by far - daily oversold level, which stands now around 3000.
Thus, although AB-CD upside action theoretically could happen, we do not recommend to go long and use any rally as chance for short entry. In fact we have pennant pattern forming on daily chart...
Miracle has not happened, (to be honest we don't count on it too much) as market has failed to complete our AB-CD pattern and dropped after it has failed to break trendline on hourly chart.
Now, again, theoretical chances exist with action to 4200$ by AB=CD retracement, as market has two bullish grabbers on 4H chart. But my suggestion is - appearing of butterfly with 3000$ target looks more probable.
In fact, if market has failed to break trend line on good uspide pace that was yesterday, today, chances to do it look phantom. BTC has negative fundamental background and from technical point of view, it has only one support by far - daily oversold level, which stands now around 3000.
Thus, although AB-CD upside action theoretically could happen, we do not recommend to go long and use any rally as chance for short entry. In fact we have pennant pattern forming on daily chart...
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/
Wyłączenie odpowiedzialności
Informacje i publikacje nie stanowią i nie powinny być traktowane jako porady finansowe, inwestycyjne, tradingowe ani jakiekolwiek inne rekomendacje dostarczane lub zatwierdzone przez TradingView. Więcej informacji znajduje się w Warunkach użytkowania.
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/
Wyłączenie odpowiedzialności
Informacje i publikacje nie stanowią i nie powinny być traktowane jako porady finansowe, inwestycyjne, tradingowe ani jakiekolwiek inne rekomendacje dostarczane lub zatwierdzone przez TradingView. Więcej informacji znajduje się w Warunkach użytkowania.