Morning folks,
So, not occasionally we said in previous 2-3 updates that BTC action doesn't look bullish and we suggest a new nosedive. Now we have bearish engulfing pattern on weekly chart. And consider these two Fib levels for another short entry attempt. Of course, 86K would be just perfect, but it could start earlier. One of the possible shapes we consider a downside butterfly.
In general, re-test of 70-73K area on average fits to our long-term view.
In a case if 86K will be broken, it could mean that market is tending to 93.5K target, based on daily AB=CD pattern. But we consider this scenario as less probable due on overall BTC heavy performance in a recent few weeks.
Thus, for now, if you want to make a scalp long trade, you could try, but better to set initial target not higher than 86K.
Our major scenario is bearish and we consider 84K and 86K Fib levels for accumulation of a bearish position, unless something extraordinary will happen.
Profit to everybody, Peace.
So, not occasionally we said in previous 2-3 updates that BTC action doesn't look bullish and we suggest a new nosedive. Now we have bearish engulfing pattern on weekly chart. And consider these two Fib levels for another short entry attempt. Of course, 86K would be just perfect, but it could start earlier. One of the possible shapes we consider a downside butterfly.
In general, re-test of 70-73K area on average fits to our long-term view.
In a case if 86K will be broken, it could mean that market is tending to 93.5K target, based on daily AB=CD pattern. But we consider this scenario as less probable due on overall BTC heavy performance in a recent few weeks.
Thus, for now, if you want to make a scalp long trade, you could try, but better to set initial target not higher than 86K.
Our major scenario is bearish and we consider 84K and 86K Fib levels for accumulation of a bearish position, unless something extraordinary will happen.
Profit to everybody, Peace.
Trade active
We keep pattern intact, 86K entry worked nice, despite some volatility due to tariffs announcement by D. Trump.If you missed the entry, today you still could keep an eye on 84K and 86k area again, where short entry is possible.
Invalidation point of this setup is 89K butterfly top.
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.