Bitcoin is close to a key level $8506 I think the price will hit it today or in 1 -2 days.
Mostly price moves with cycles
Accumulation > Move > Pullback (2nd accumulation) > 2md Move. Some instruments can repeat such cycles many times.
BTC made a powerfull up move without any good pullback, I don't believe that big player will let the public make a lot of money. They will come back for their stop losses or breakevens.
That's why I will pay more attention to BTC/USD and its reaction on $8500
Mostly price moves with cycles
Accumulation > Move > Pullback (2nd accumulation) > 2md Move. Some instruments can repeat such cycles many times.
BTC made a powerfull up move without any good pullback, I don't believe that big player will let the public make a lot of money. They will come back for their stop losses or breakevens.
That's why I will pay more attention to BTC/USD and its reaction on $8500
Note
Price is still bullishI wait how it will react on key level $8506
Note
Note
BTC Still bullish, Hold buy till key levelThere is no signal that price will return
Note
Price still bullish You see ho many candles bounced from Red level
Still, wait for price reaction on $8506
Note
Price still bullish as you see on the chart, the price bounced from upward lineIt looks like price will continue up move
I still think that price can start a pullback from $8506 but we need to see a price confirmation
How it could look on charts
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.