Another attempt for the 101-102K bounce
Morning folks,
So market stands in the narrow range for the 3rd week already and not leaving hopes to show the bounce up to 101-102K area. Last attempt (in the way of cup pattern that we've discussed last time) has failed.
We don't care about it because mostly stay focused on weekly bearish DRPO pattern. Thus, any bounce here we consider first as a chance to Sell. And only second as a possible upside continuation.
For now BTC is trying to make an another attempt and form reverse H&S pattern on 1H chart. So target remains the same 101-102K. We have no intention to go long right now. But, if you trade intraday or just search chances to buy - maybe be this setup might be useful to you.
Supposedly 96K is an area where decision on position taking has to be made.
I keep the "bearish" mark for this setup. But, as now as last time - the bounce to 101-102K area are not excluded.
So market stands in the narrow range for the 3rd week already and not leaving hopes to show the bounce up to 101-102K area. Last attempt (in the way of cup pattern that we've discussed last time) has failed.
We don't care about it because mostly stay focused on weekly bearish DRPO pattern. Thus, any bounce here we consider first as a chance to Sell. And only second as a possible upside continuation.
For now BTC is trying to make an another attempt and form reverse H&S pattern on 1H chart. So target remains the same 101-102K. We have no intention to go long right now. But, if you trade intraday or just search chances to buy - maybe be this setup might be useful to you.
Supposedly 96K is an area where decision on position taking has to be made.
I keep the "bearish" mark for this setup. But, as now as last time - the bounce to 101-102K area are not excluded.
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.