Morning guys,
So, our daily XOP 6.3K target mostly is hit as well. This is vital area for long-term BTC perspective. If market will not able to hold above 6.3-7.2K Agreement area (agreement of 6.3 target and major 5/8 Fib support) - it turns to
downtrend on weekly. So:
Drop below 6.3 and moving toward 6K will mean that we're going to 4.2K
Drop below 4.2K will lead us to ultimate all time target around 1.8-2K
If price will able to hold above 6.3-7.2K - BTC will keep chances on upside continuation but it needs some tome to wait when clear bullish patterns will be formed.
In short-term (in few hours), bull scalpers could try to take long position around 6.3K area, because at least minor pullback should happen, I suppose. Move stops at breakeven as soon as possible. Use 4H butterfly "Buy" for this purpose.
Bears that do not have any position right now should do nothing - wait for pullback.
So, our daily XOP 6.3K target mostly is hit as well. This is vital area for long-term BTC perspective. If market will not able to hold above 6.3-7.2K Agreement area (agreement of 6.3 target and major 5/8 Fib support) - it turns to
downtrend on weekly. So:
Drop below 6.3 and moving toward 6K will mean that we're going to 4.2K
Drop below 4.2K will lead us to ultimate all time target around 1.8-2K
If price will able to hold above 6.3-7.2K - BTC will keep chances on upside continuation but it needs some tome to wait when clear bullish patterns will be formed.
In short-term (in few hours), bull scalpers could try to take long position around 6.3K area, because at least minor pullback should happen, I suppose. Move stops at breakeven as soon as possible. Use 4H butterfly "Buy" for this purpose.
Bears that do not have any position right now should do nothing - wait for pullback.
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.