BTC to retest 52500$ (+8%)
Updated
BTC has bottomed out and has a nice layer of support at 48500$; I expect BTC to retest 52500$ this weekend before any further downside. Good opportunity for the markets to regain some strength over the weekend and fill those big red vector candles to the upside. We had most of the dump now so we can recover from here for the next day or two; I expect some action with alts...
IMPORTANT: this is not financial advice, trade or invest based on your own risk and research.
IMPORTANT: this is not financial advice, trade or invest based on your own risk and research.
Note
BTC UPDATE: we see that the BTC CME FUTURE price was left at 50845; a good recovery coming from 47500 BUT(!) I expect some one last dump on Sunday to Monday night. We can see the last candles are red which could imply the market maker has put in shorts for further continuation to the downside. My target of 44K still stands; I expect we see a good bounce there; if not; we are in trouble (for the short/mid term). This means I expect a market wide correction from Sunday to Monday and given next week is the future expiration; we could see some more fireworks; however; we are already under the entry price from end of March so the market maker doesnt need further continuation to the downside. The best projection I can make is correction towards 44K and a big bounce upwards to 52500 by Friday. Friday will be crucial with the futures expirations; if they extend their contracts; we will continue to the upside; if they sell at a loss; we will continue to the downside and further corrections arent excluded. Stay sharp, good weekend! (Today will be sideways or up for a retest at 52500 for BTC)Note
BTC UPDATE: head and shoulders; correction expected at market open...Note
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