BTC Consolidation continues but under the Bulls terms. 2400-4000
Updated
BTC Bulls reclaimed the Market following the previous debate.
Clear statements were made that BTC is the crypto market and be careful when you short it.
Our support levels Marked on our four hours chart are marked with the strongest at 2200.
2400 May be where we start the trip up but very hard to call anything now.
My reason for 2400, it was where we had our inversed head and shoulders Breakout with maximum resistance.
Long term investors in BTC are looking at 4000 and 5000 Marks respectively.
Now everyone is awaiting the price action which will very cautiously go down to where the Market Bulls want it.
Options are
1. Long term holders Hodor it, accept possible decline to 2200 but equally could go up to 4000 straight away.
2. Short term traders , possible buy above recent high at 2950, 3000 might be strong so you might as well buy above 3000
3. Other options await price retracement to support levels with reversal signs
Review My previous charts
Please like and comment if you disagree.
Clear statements were made that BTC is the crypto market and be careful when you short it.
Our support levels Marked on our four hours chart are marked with the strongest at 2200.
2400 May be where we start the trip up but very hard to call anything now.
My reason for 2400, it was where we had our inversed head and shoulders Breakout with maximum resistance.
Long term investors in BTC are looking at 4000 and 5000 Marks respectively.
Now everyone is awaiting the price action which will very cautiously go down to where the Market Bulls want it.
Options are
1. Long term holders Hodor it, accept possible decline to 2200 but equally could go up to 4000 straight away.
2. Short term traders , possible buy above recent high at 2950, 3000 might be strong so you might as well buy above 3000
3. Other options await price retracement to support levels with reversal signs
Review My previous charts
Please like and comment if you disagree.
Trade active
Options for tomorrow 1. More likely up to challenge and break out of the 3000 Mark
(More likely based on BCC sell out and segwit activation)
2. Status quo remains 2nd most probable (based on Market will await 8th of August for segwit activation)
3. sell off ( no signs of that till now)
Based on Market behaviour, our position for BTC remains long, a breakout of the 3000 sets target to 3200 and 3400 respectively.
Please use money management
Happy trading everyone
Note
AS we called 2400 to be the floor Bulls are in charge
Trade closed: target reached
target achieved time to slow down and take a breather
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