BitcoinLong
107.60K
Morning folks,
So, BTC has shown the pullback that we've discussed, but it was even stronger. Thus, we had have to postpone our plans for short entry. Besides, now situation stands so that our weekly pattern (DRPO "Sell") might not be confirmed this week.
To keep it simple - no new shorts by far. For now we focus only on intraday setups. For example, on 4H chart. If we could to use 8H or 10H chart instead, then we could see nice big bullish engulfing pattern. As usual it has AB=CD upside target, which is around 107.5K for now.
"C" point lows seems to be a vital area for this setup, just because this is 5/8 support and breakout of 95K level will change everything here. So, decision on entry has to be made fast, while price is not too far from vital area.
So, BTC has shown the pullback that we've discussed, but it was even stronger. Thus, we had have to postpone our plans for short entry. Besides, now situation stands so that our weekly pattern (DRPO "Sell") might not be confirmed this week.
To keep it simple - no new shorts by far. For now we focus only on intraday setups. For example, on 4H chart. If we could to use 8H or 10H chart instead, then we could see nice big bullish engulfing pattern. As usual it has AB=CD upside target, which is around 107.5K for now.
"C" point lows seems to be a vital area for this setup, just because this is 5/8 support and breakout of 95K level will change everything here. So, decision on entry has to be made fast, while price is not too far from vital area.
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/
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.
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/
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.