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Hello,
We have Daily CME chart here,
We saw BTC broke from the Ascending triangle pattern and reached the measured move target perfectly.
Only thing was this target still fell just a bit short than where we have long unfulfilled gap on CME .
For today and on next coming days, I am expecting BTC to put in some small retrace (Note: I am not expecting deeper retracement in BTC for now) and head back to the 12K target which will also get that gap filled and hit areas of strong resistance.
We also have to see confirmation of the HL on daily chart so this retrace could be the most bullish thing to happen.
The chart pattern I published few weeks back has worked as I was expecting, It gave you perfect targets for take profit and got you long entry from 9250. You will find more info on it on the below chart.
Hope you find this info helpful.
Happy and safe trading...
Chao...
We have Daily CME chart here,
We saw BTC broke from the Ascending triangle pattern and reached the measured move target perfectly.
Only thing was this target still fell just a bit short than where we have long unfulfilled gap on CME .
For today and on next coming days, I am expecting BTC to put in some small retrace (Note: I am not expecting deeper retracement in BTC for now) and head back to the 12K target which will also get that gap filled and hit areas of strong resistance.
We also have to see confirmation of the HL on daily chart so this retrace could be the most bullish thing to happen.
The chart pattern I published few weeks back has worked as I was expecting, It gave you perfect targets for take profit and got you long entry from 9250. You will find more info on it on the below chart.
Hope you find this info helpful.
Happy and safe trading...
Chao...
Comment:
Forgot to mention, for the retrace, I am watching levels marked in green box (10500 - 10700) which could put BTC at 10300 - 10500 area. Which coincides very well with these previous tops.
Comment:
One more thing we should pay attention to is Dollar, It has taken a beating which resulted into many assets moving up. But Dollar now came into its long term support zone. It can get nice bounce from here which could lead to other assets selling off including crypto. So keep eye on this chart
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I had this big channel for the longest time in my charts too.
Right now already dropped to 10.6K, do you think dropping to the middle of the channel is still possible?
Will the last CME gap at 9.6 be ignored?
Right now already dropped to 10.6K, do you think dropping to the middle of the channel is still possible?
Will the last CME gap at 9.6 be ignored?
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@ed4, I do not think the gap at 9600 will be ignored, but we can not say when it will get filled either. CME had similar big gaps back in May-June run. All those gaps did got filled eventually (some gaps closed in couple days and some took couple months).
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