Morning guys,
Situation on BTC changes slow right now. BTC has needed almost the whole week to complete our last target. In previous update we've talked about 4H "222" Sell pattern.
Now finally it has been completed. In general market shows good background for short-entry, but we need to get a bit more confidence.
Now, on 1H chart "222" Buy is forming and 3840 area is strong support. It is high probability that some upside bounce will happen. We need to watch how strong it will be.
If BTC jump up and move above recent tops - it is not time yet to go short. Minor, 30% bounce up and following downside breakout of 3840 area means that bearish trend continues.
Thus, we have multiple setups here. Scalptraders could work directly with "222" Buy, while daily traders search chances to go short - either against recent tops or after 3840 breakout using minor retracement.
Situation on BTC changes slow right now. BTC has needed almost the whole week to complete our last target. In previous update we've talked about 4H "222" Sell pattern.
Now finally it has been completed. In general market shows good background for short-entry, but we need to get a bit more confidence.
Now, on 1H chart "222" Buy is forming and 3840 area is strong support. It is high probability that some upside bounce will happen. We need to watch how strong it will be.
If BTC jump up and move above recent tops - it is not time yet to go short. Minor, 30% bounce up and following downside breakout of 3840 area means that bearish trend continues.
Thus, we have multiple setups here. Scalptraders could work directly with "222" Buy, while daily traders search chances to go short - either against recent tops or after 3840 breakout using minor retracement.
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.