Morning everybody,
Happy Xmas holidays to everybody, this time its three days, which is great (as well as on New Year's day, btw). Well, recent scalp setup to buy deep and out at top has worked nice, but it was rather short-term scenario.
On Monday we intend to release Fundamental research on BTC market. As a hint on content - do you know that Grayscale temporary stops accept funds in their BTC Hedge fund? as JP Morgan suggests, it might be the sign of coming retracement. And now take a look at 1H chart that I've prepared. Diamond. If it works, price could re-test former ATH at least, around 20K, which is also 5/8 Fib support on daily chart.
It doesn't mean that you have to sell, but this pattern is useful to everybody. Would like to buy? Great, but be aware of this pattern and wait when it works out or fails. If you want to sell - try to take position as close as possible to the trend line with stops above the top. Technically retracement is ripen already as BTC stands overbought at monthly and weekly charts, reaching major monthly 23K target. So, this pattern on 1H chart is worthy of attention, no matter of would you intend to trade it or not.
Happy Xmas holidays to everybody, this time its three days, which is great (as well as on New Year's day, btw). Well, recent scalp setup to buy deep and out at top has worked nice, but it was rather short-term scenario.
On Monday we intend to release Fundamental research on BTC market. As a hint on content - do you know that Grayscale temporary stops accept funds in their BTC Hedge fund? as JP Morgan suggests, it might be the sign of coming retracement. And now take a look at 1H chart that I've prepared. Diamond. If it works, price could re-test former ATH at least, around 20K, which is also 5/8 Fib support on daily chart.
It doesn't mean that you have to sell, but this pattern is useful to everybody. Would like to buy? Great, but be aware of this pattern and wait when it works out or fails. If you want to sell - try to take position as close as possible to the trend line with stops above the top. Technically retracement is ripen already as BTC stands overbought at monthly and weekly charts, reaching major monthly 23K target. So, this pattern on 1H chart is worthy of attention, no matter of would you intend to trade it or not.
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.