Greetings everybody,
In recent week BTC shows relatively slow action. Now we could consider a bit deeper retracement. Actually the pattern that we've discussed now is taking some shape. I'm talking about potential H&S pattern that could lead price to 41-42K support area. Actually I'm not sure that it is definitely will be formed, as overall action looks strong. But, as BTC stands at weekly overbought and daily 5/8 resistance - it is logical to suggest retracement at least to major 3/8 support level.
Besides, now we see some strength in US dollar across the board, so, it also could become the factor in favor of H&S pattern.
In recent week BTC shows relatively slow action. Now we could consider a bit deeper retracement. Actually the pattern that we've discussed now is taking some shape. I'm talking about potential H&S pattern that could lead price to 41-42K support area. Actually I'm not sure that it is definitely will be formed, as overall action looks strong. But, as BTC stands at weekly overbought and daily 5/8 resistance - it is logical to suggest retracement at least to major 3/8 support level.
Besides, now we see some strength in US dollar across the board, so, it also could become the factor in favor of H&S pattern.
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.