Morning folks,
So, let's see what do we have today... Please combine this chart with our Cup&handle pattern from previous update.
We have bullish context by far. But what I do not like. I do not like dropping of the hash rate and I do not like exhausting of optimism on stock market too fast. Just on Monday we've got news on vaccine and everybody were happy, but now this euphoria is blowing away.
It means that right now we hardly could count on extended and stable upside trend. More probable is Wash & Rinse of previous tops on daily chart.
For example we could get this butterfly with minimum target around 10.60K. But, this level is above daily tops, where more stops stand. This could push price higher, even to 1.618 butterfly target. So, just keep nose to the wind.
We're in on handle's bottom accurately. Now we could move stops to breakeven. Our invalidation point is 9.5K lows and cup's bottom as well.
Thus, bulls could keep positions while our vital area holds with minimum target around 10.6K. Bears have nothing to do by far.
Do not use too extended upside targets by far. Analysis of all time frames in video on FPA website, as usual.
Take care,
S.
So, let's see what do we have today... Please combine this chart with our Cup&handle pattern from previous update.
We have bullish context by far. But what I do not like. I do not like dropping of the hash rate and I do not like exhausting of optimism on stock market too fast. Just on Monday we've got news on vaccine and everybody were happy, but now this euphoria is blowing away.
It means that right now we hardly could count on extended and stable upside trend. More probable is Wash & Rinse of previous tops on daily chart.
For example we could get this butterfly with minimum target around 10.60K. But, this level is above daily tops, where more stops stand. This could push price higher, even to 1.618 butterfly target. So, just keep nose to the wind.
We're in on handle's bottom accurately. Now we could move stops to breakeven. Our invalidation point is 9.5K lows and cup's bottom as well.
Thus, bulls could keep positions while our vital area holds with minimum target around 10.6K. Bears have nothing to do by far.
Do not use too extended upside targets by far. Analysis of all time frames in video on FPA website, as usual.
Take care,
S.
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.