Morning guys,
Recently we've suggested that BTC stands at the eve of strong action, but for upside breakout it needs external push as inner power exhaust.
With recent spike up BTC has completed our 3-Drive "Sell" pattern. On a BTC it is always difficult to make long-term forecasts as this market is very thin and could be easily manipulated
by holders of big wallets.
Now odds suggest reasonable pullback. At least theoretically 3-Drive minimum target is the bottom between 2nd and 3rd drives.
Thus, bulls should wait for reasonable pullback. Bears could try to sell, using this 3-Drive. Now we need to keep an eye on retracement how strong and deep it will be. This should let us to undertsand what to expect
Recently we've suggested that BTC stands at the eve of strong action, but for upside breakout it needs external push as inner power exhaust.
With recent spike up BTC has completed our 3-Drive "Sell" pattern. On a BTC it is always difficult to make long-term forecasts as this market is very thin and could be easily manipulated
by holders of big wallets.
Now odds suggest reasonable pullback. At least theoretically 3-Drive minimum target is the bottom between 2nd and 3rd drives.
Thus, bulls should wait for reasonable pullback. Bears could try to sell, using this 3-Drive. Now we need to keep an eye on retracement how strong and deep it will be. This should let us to undertsand what to expect
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.