BTC SHIFT TO BULLISH BIAS TO BE CONFIRMED ON NEXT LEG UP TO $51k
Update on my previous idea - see Link to Related Ideas below.
As predicted BTC has had a strong impulsive upward move to
42K region followed by a healthy retracement which did break market structure which posed some concern.
However (1) restrained selling volume together with the (2) extreme steepness of the impulsive moves upward trend line and (3) the RSI showing evidence of a resistance / support flip bet much diminishes this concern. A new local low seems to be in place and we can now expect the next upward movement to commence.
Next Targeted Price Level approximately $51,000.
Have fun ladies & gentlemen and enjoy the ride...
philtime
(NB: THE BEST LOSER WINS - MANAGE YOUR RISK AND ALWAYS MAKE CAPITAL PRESERVATION YOUR PRIORITY OVER AND ABOVE PROFITS)
As predicted BTC has had a strong impulsive upward move to
42K region followed by a healthy retracement which did break market structure which posed some concern. However (1) restrained selling volume together with the (2) extreme steepness of the impulsive moves upward trend line and (3) the RSI showing evidence of a resistance / support flip bet much diminishes this concern. A new local low seems to be in place and we can now expect the next upward movement to commence.
Next Targeted Price Level approximately $51,000.
Have fun ladies & gentlemen and enjoy the ride...
philtime
(NB: THE BEST LOSER WINS - MANAGE YOUR RISK AND ALWAYS MAKE CAPITAL PRESERVATION YOUR PRIORITY OVER AND ABOVE PROFITS)
Related publications
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.