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Support-resistance

BTC SHIFT TO BULLISH BIAS TO BE CONFIRMED ON NEXT LEG UP TO $51kUpdate 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)
BITMEX:BTCUSD.PLong
by philtime