Morning guys,
BTC surprisingly quiet compares to the madness that we see on Gold and stock market today... So, we have classic flag pattern consolidation, which keeps bullish longer-term context but doesn't clarify definitely where to take position right now. This is the reason why we have to consider few scenarios. You could choose what you like more.
But first - bears have nothing to consider yet, just to keep existed position that we've taken last week with breakeven stop.
For the bulls there are two scenarios. First is based on bullish MACD grabber that we have on 4H chart. Theoretical it suggests action above recent top and it might happen that upside breakout starts. If we right - BTC moves higher to 11K target, if not - loss will be minimal, as grabber's invalidation point stands right under its lows.
Second scenario, if you do not want to stick with the grabbers, you have to wait either for 10.3K top breakout or drop to our predefined target - 9-9.2K support. In situation with 10.3 level you could use Stop "Buy" order again.
Unfortunately this is all inputs that we have by far...
BTC surprisingly quiet compares to the madness that we see on Gold and stock market today... So, we have classic flag pattern consolidation, which keeps bullish longer-term context but doesn't clarify definitely where to take position right now. This is the reason why we have to consider few scenarios. You could choose what you like more.
But first - bears have nothing to consider yet, just to keep existed position that we've taken last week with breakeven stop.
For the bulls there are two scenarios. First is based on bullish MACD grabber that we have on 4H chart. Theoretical it suggests action above recent top and it might happen that upside breakout starts. If we right - BTC moves higher to 11K target, if not - loss will be minimal, as grabber's invalidation point stands right under its lows.
Second scenario, if you do not want to stick with the grabbers, you have to wait either for 10.3K top breakout or drop to our predefined target - 9-9.2K support. In situation with 10.3 level you could use Stop "Buy" order again.
Unfortunately this is all inputs that we have by far...
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.