First trade- Set Short entries at $8600 & $8860 Tp.1 7860 Tp.2 7,086
Second trade- Set Longs at $7080 & $6686 Tp.1 $8260 Tp.2 $9380 Tp.3 $10,280
Third trade- Set Shorts at $10,286 & $10,462 Tp.1 $9,600 Tp.2 $8,860 Tp.3 7,868 Tp.4 6,500BTC/USD’s ability to remain above the 7473.42 area will be closely scrutinised by traders intent on assessing the sustainability of the recent move, as this area represents the 23.6% retracement of the 10540.49 – 6526.00 range. Likewise, a move back above the 8059.54 area will be seen as a bullish development as this represents the 38.2% retracement of the same range. Below current price activity, traders anticipate Bids around the 7597, 7473, 7313, and 7117 areas. Above current price activity, traders anticipate Offers around the 8177, 8340, 8585, and 8799 areas.
Price activity is nearest the 50-bar MA (4-hourly) at 7,674.59 and the 100-bar MA (Hourly) at 7,972.29.
Technical Support is expected around 7662.03/ 7568.45/ 6526.00 with Stops expected below.
Technical Resistance is expected around 8587.90/ 8799.53/ 9006.95 with Stops expected above.
On 4-Hourly chart, SlowK is Bullishly above SlowD while MACD is Bearishly below MACDAverage.
On 60-minute chart, SlowK is Bullishly above SlowD while MACD is Bullishly above MACDAverage.
Second trade- Set Longs at $7080 & $6686 Tp.1 $8260 Tp.2 $9380 Tp.3 $10,280
Third trade- Set Shorts at $10,286 & $10,462 Tp.1 $9,600 Tp.2 $8,860 Tp.3 7,868 Tp.4 6,500BTC/USD’s ability to remain above the 7473.42 area will be closely scrutinised by traders intent on assessing the sustainability of the recent move, as this area represents the 23.6% retracement of the 10540.49 – 6526.00 range. Likewise, a move back above the 8059.54 area will be seen as a bullish development as this represents the 38.2% retracement of the same range. Below current price activity, traders anticipate Bids around the 7597, 7473, 7313, and 7117 areas. Above current price activity, traders anticipate Offers around the 8177, 8340, 8585, and 8799 areas.
Price activity is nearest the 50-bar MA (4-hourly) at 7,674.59 and the 100-bar MA (Hourly) at 7,972.29.
Technical Support is expected around 7662.03/ 7568.45/ 6526.00 with Stops expected below.
Technical Resistance is expected around 8587.90/ 8799.53/ 9006.95 with Stops expected above.
On 4-Hourly chart, SlowK is Bullishly above SlowD while MACD is Bearishly below MACDAverage.
On 60-minute chart, SlowK is Bullishly above SlowD while MACD is Bullishly above MACDAverage.