Morning folks,
So, our 80-85K trade was nice. Now we think that it is not time for big trades, mostly because many markets, and especially US bonds and dollar are overextended. That's why for a few sessions we're focused on near standing targets.
BTC daily chart shows strong resistance around 87-89K area, which is also might be the neckline of potential reverse H&S. We already talked about this previously.
It is the 2nd reason why it would be better to focus on something close. Thus, on 1H chart setup might be looking like you see on the chart. We hope that 83K support will hold. Otherwise, this trade has no sense, because stop placement below 81K support makes risk/reward ratio unattractive.
Thus, supposedly 87-88K is an upside target. And we hope that BTC will stay above 83K.
So, our 80-85K trade was nice. Now we think that it is not time for big trades, mostly because many markets, and especially US bonds and dollar are overextended. That's why for a few sessions we're focused on near standing targets.
BTC daily chart shows strong resistance around 87-89K area, which is also might be the neckline of potential reverse H&S. We already talked about this previously.
It is the 2nd reason why it would be better to focus on something close. Thus, on 1H chart setup might be looking like you see on the chart. We hope that 83K support will hold. Otherwise, this trade has no sense, because stop placement below 81K support makes risk/reward ratio unattractive.
Thus, supposedly 87-88K is an upside target. And we hope that BTC will stay above 83K.
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.