Morning guys,
So, setup that we've discussed yesterday is done, but it seems that not everybody were in time to come aboard. Today we discuss how to join the rally.
But first about targets... now market stands at minor target - 1.27 extension of our "BC" leg, next one will be 1.618 extension around 9.7K, and finally, major destination point is 10.5K - AB=CD target here.
As BTC has broken major daily resistance area, and major retracement (which is BC) leg is done already - we do not have any reasons to count on deep retracement again. BTC is not at Overbought as well.
Thus, taking '2+2" it seems that most proper level to consider is previous top and minor 3/8 Fib support on 1H chart around 9.2$. Watch for minor "222" Buy around it. BTC keeps bullish context.
So, setup that we've discussed yesterday is done, but it seems that not everybody were in time to come aboard. Today we discuss how to join the rally.
But first about targets... now market stands at minor target - 1.27 extension of our "BC" leg, next one will be 1.618 extension around 9.7K, and finally, major destination point is 10.5K - AB=CD target here.
As BTC has broken major daily resistance area, and major retracement (which is BC) leg is done already - we do not have any reasons to count on deep retracement again. BTC is not at Overbought as well.
Thus, taking '2+2" it seems that most proper level to consider is previous top and minor 3/8 Fib support on 1H chart around 9.2$. Watch for minor "222" Buy around it. BTC keeps bullish context.
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.