Bitcoin has retraced the trend down from the January 11 pivot high. The retracement is 0.5 Fib
level. The zero-lag MACD and dual TF RSI both show bullish momentum. I believe BTCUSD
may consolidate here and then at least by the Luxalgo Echo indicator bullish continuation
will restart. I see a good entry at 43800 with a stop loss below the 0.5 Fib level at 43250
which would be about 1.25% My target at the second upper VWAP band line is 47800 or about
8% upside. This is confluent with the 0.618 Fib extension. The reward to risk would be 4000 /
550 or about 7.
level. The zero-lag MACD and dual TF RSI both show bullish momentum. I believe BTCUSD
may consolidate here and then at least by the Luxalgo Echo indicator bullish continuation
will restart. I see a good entry at 43800 with a stop loss below the 0.5 Fib level at 43250
which would be about 1.25% My target at the second upper VWAP band line is 47800 or about
8% upside. This is confluent with the 0.618 Fib extension. The reward to risk would be 4000 /
550 or about 7.
Trade active
What is good for Bitcoin is good for the crypto-related stocks like BTCS, BTBT, RIOT and MARA.
Trade active
Narrow range consolidation for now.Note
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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.