Hidden Accumulation At 60k
Hi all,
Bitcoin rejected from 67k, 1k shy from my previous target. TOTT kicked me out at 63152.65 as i tweeted in real time. Nice catch so far, but i should have taken profits earlier before TOTT, next time i'll do that.
As per technicals, 8 hours in to the weekly close, Bitcoin is trading right below the weekly open at 61532.17 forming a doji candle. This looks bearish and suggests more downside, however we have an accumulation type structure above 60k that suggests the opposite!
If we break above 61.530, our next target will be 69-70k and we may get another reaction there where i'll be looking to take profits!
To the downside, 60k is holding as an important level where the point of control is. If it breaks below 60k, our next target will be 56.550 per the weekly 0.382 fib levels.
I'm back in 30% at 60k based on this accumulation type structure. The rest will be TOTT's call.
As always, trade safe!
Bitcoin rejected from 67k, 1k shy from my previous target. TOTT kicked me out at 63152.65 as i tweeted in real time. Nice catch so far, but i should have taken profits earlier before TOTT, next time i'll do that.
As per technicals, 8 hours in to the weekly close, Bitcoin is trading right below the weekly open at 61532.17 forming a doji candle. This looks bearish and suggests more downside, however we have an accumulation type structure above 60k that suggests the opposite!
If we break above 61.530, our next target will be 69-70k and we may get another reaction there where i'll be looking to take profits!
To the downside, 60k is holding as an important level where the point of control is. If it breaks below 60k, our next target will be 56.550 per the weekly 0.382 fib levels.
I'm back in 30% at 60k based on this accumulation type structure. The rest will be TOTT's call.
As always, trade safe!
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