Long

BTCUSD short term target

By party

Updated

The short term target for BTCUSD is 4700 according to the Fib retracement.

Note

We successfully tested the Fib level .5 (3500) and move toward Fib level 1 (4040) which is the first resistance.

Note

Everything looks good so far and we expect the range 4400-4700.

Note

If you will look at the BTCUSD dashboard you will see that the sentiment is extremely bearish. I consider the current situation as a consolidation phase needed to cool off and natural after a significant rise.

Note

We have a consolidation in the range of fibo 0.786-1. It may continue for a couple of days.

Note

The price dynamics looks threatening. We had a support at fibo 0.618 (3684) for now, but need to see if we will break through the blue trend line.

Note

We are in wave v of wave 3 of cyle wave V. Next target range is 4550-4900.

party

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