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/
Thông báo miễn trừ trách nhiệm
Thông tin và các ấn phẩm này không nhằm mục đích, và không cấu thành, lời khuyên hoặc khuyến nghị về tài chính, đầu tư, giao dịch hay các loại khác do TradingView cung cấp hoặc xác nhận. Đọc thêm tại Điều khoản Sử dụng.
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/
Thông báo miễn trừ trách nhiệm
Thông tin và các ấn phẩm này không nhằm mục đích, và không cấu thành, lời khuyên hoặc khuyến nghị về tài chính, đầu tư, giao dịch hay các loại khác do TradingView cung cấp hoặc xác nhận. Đọc thêm tại Điều khoản Sử dụng.