For the moment we are bullish on BTC and we expect to see at least an attempt of creating a higher high before resuming the downtrend but what if 7469 doesn't hold? We have 2 buying zones but the more it falls the less likely it is to recover and create a higher high. If 7469 holds you can see our taking profit areas on the chart.
Thicker line = bigger confluence of supports/resistances/extensions/targets
Thicker line = bigger confluence of supports/resistances/extensions/targets
Note
There are a lot of reasons 7469 this level to hold.
We are retesting the downtrend line with a golden cross right under us (20&100ma) at the 0.382 retrace level.
Note
We have adjusted our targets. Check our next update.
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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.