Morning guys,
Last week we made no update on BTC just because it has lost 90% of its volatility and speculators' activity. Market is not very interesting for active trading.
As you can see, even with such events as Fed meeting and NFP data on the back - BTC shows anemic sensitivity and shows no reaction.
Thus, everything that we've said last week mostly stands the same this week as well. if you've read our January fundamental briefing of BTC market you probably know
that all major fundamental events that should have become major driving factors for BTC in the beginning of the year were postponed. In very long-perspective we see positive shifts
and think that crypto topic will survive and continue its development but real upside long term trend hardly start first half of 2019.
It means that in short-term perspective we're still watching for our ultimate 1800-2000 target, while on daily chart we expect drop below 3000$
On 4H chart we have AB-CD pattern that suggests precisely this action. Price moves slowly but stubbornly and shows 2 step forward 1 step back shape of action on 1H chart.
Last week we made no update on BTC just because it has lost 90% of its volatility and speculators' activity. Market is not very interesting for active trading.
As you can see, even with such events as Fed meeting and NFP data on the back - BTC shows anemic sensitivity and shows no reaction.
Thus, everything that we've said last week mostly stands the same this week as well. if you've read our January fundamental briefing of BTC market you probably know
that all major fundamental events that should have become major driving factors for BTC in the beginning of the year were postponed. In very long-perspective we see positive shifts
and think that crypto topic will survive and continue its development but real upside long term trend hardly start first half of 2019.
It means that in short-term perspective we're still watching for our ultimate 1800-2000 target, while on daily chart we expect drop below 3000$
On 4H chart we have AB-CD pattern that suggests precisely this action. Price moves slowly but stubbornly and shows 2 step forward 1 step back shape of action on 1H chart.
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.