Morning folks,
So, here is we get major signal that we've discussed - straight breakout of major 8K resistance area in classic bullish manner. Now area to 10K level is open as we do not have any strong resistance levels till that level. At the same time, market is overbought on daily and we expect slower pace of upside action. Some pullback is also possible, but we consider only near stand levels. In current environment BTC should not show too deep retracement. Any retracement should be above 8K broken level, and more probable this is nearest Fib support on the chart.
Our AB-CD pattern has the target that agrees with major daily/weekly 5/8 Fib resistance level.
Also be aware of resistance on stock market. Now as DAX as S&P stands at major 5/8 resistance level. Our fundamental analysis shows strong correlation to the stock. (actually there was strong rally yesterday on stocks as well). Don't be upset if you've missed to catch this rally - there will be pullback and there will be chance to buy at good price.
So, here is we get major signal that we've discussed - straight breakout of major 8K resistance area in classic bullish manner. Now area to 10K level is open as we do not have any strong resistance levels till that level. At the same time, market is overbought on daily and we expect slower pace of upside action. Some pullback is also possible, but we consider only near stand levels. In current environment BTC should not show too deep retracement. Any retracement should be above 8K broken level, and more probable this is nearest Fib support on the chart.
Our AB-CD pattern has the target that agrees with major daily/weekly 5/8 Fib resistance level.
Also be aware of resistance on stock market. Now as DAX as S&P stands at major 5/8 resistance level. Our fundamental analysis shows strong correlation to the stock. (actually there was strong rally yesterday on stocks as well). Don't be upset if you've missed to catch this rally - there will be pullback and there will be chance to buy at good price.
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.