BTCUSD recent break out of down trend channel, looking for a near term pullback to the .5 fib area of 51659 as there is more resistance around these levels in recent price action. Lots of compounded resistance with 50 and 200 SMA nearby to push through for a continued move up and resuming of impulse wave 5.Will be paying attention to backtest of channel breakout around 46-47k, also looking for higher lows printed after rejection of 51,659 area.
Always remember your risk management first and foremost.
Wolfgang
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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.