Morning guys,
As we've said in last report - 6800 support will be vital for direction of the market. BTC has failed the test and dropped below AB-CD target and major 5/8 support area. It means that odds suggest further downside action.
Now, we consider daily butterfly and our untouched XOP target - this is approximately 6200-6350 area. Then we will see what will happen there. If reaction again will be weak, it gives us reasons to consider weekly AB=CD with 4K destination point.
As we've said in last report - 6800 support will be vital for direction of the market. BTC has failed the test and dropped below AB-CD target and major 5/8 support area. It means that odds suggest further downside action.
Now, we consider daily butterfly and our untouched XOP target - this is approximately 6200-6350 area. Then we will see what will happen there. If reaction again will be weak, it gives us reasons to consider weekly AB=CD with 4K destination point.
ForexPeaceArmy BTC analytics :
forexpeacearmy.com/r/author/11/sive-morten-blog
FX, GOLD:
forexpeacearmy.com/community/forums/sive-morten-currencies-and-gold-video-analysis.122/
forexpeacearmy.com/r/author/11/sive-morten-blog
FX, GOLD:
forexpeacearmy.com/community/forums/sive-morten-currencies-and-gold-video-analysis.122/
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.
ForexPeaceArmy BTC analytics :
forexpeacearmy.com/r/author/11/sive-morten-blog
FX, GOLD:
forexpeacearmy.com/community/forums/sive-morten-currencies-and-gold-video-analysis.122/
forexpeacearmy.com/r/author/11/sive-morten-blog
FX, GOLD:
forexpeacearmy.com/community/forums/sive-morten-currencies-and-gold-video-analysis.122/
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.