BitcoinLong
Current thesis BTC.
Showing slight weakness on this pump above ATH's (Bearish Div) - Weekly & Daily. (Volume falling despite price climbing) - weekly.
However BTC being parabolic i do think we can continue further after this daily retest of the previous high.
one thing i will be looking at is the candlestick closure of the WEEKLY, if this closes in a bearish formation OR under the prev high i will be looking for a pullback to 50k - 52k. ----this area is the body of the prev impulse also it lines up with the weekly trend line i have drew. as well as it being the 0.1618 retracement level.
once the pullback has occurred we will then continue higher.
However BTC being parabolic i do think we can continue further after this daily retest of the previous high.
one thing i will be looking at is the candlestick closure of the WEEKLY, if this closes in a bearish formation OR under the prev high i will be looking for a pullback to 50k - 52k. ----this area is the body of the prev impulse also it lines up with the weekly trend line i have drew. as well as it being the 0.1618 retracement level.
once the pullback has occurred we will then continue higher.
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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.