Morning folks,
Although we were a bit sceptic last time about good entry chance, because we saw how BlackRock just buying out any, even minimal deep on the market. Still, market was able to reach 65K area that we've discussed on Thursday.
65K is also daily oversold. Since we have strong upside momentum, upside bounce should be at least 5/8, which is around 70K, but this is minimal target, it could move higher.
On 1H chart we have great pattern on the back of this idea - reverse H&S. It is not totally completed yet, but shape is becoming clear. So, depending on what AB-CD pattern we will get, based on this pattern, we get corresponding upside target. For now it is around 71-72.5K
We consider no shorts by far.
Although we were a bit sceptic last time about good entry chance, because we saw how BlackRock just buying out any, even minimal deep on the market. Still, market was able to reach 65K area that we've discussed on Thursday.
65K is also daily oversold. Since we have strong upside momentum, upside bounce should be at least 5/8, which is around 70K, but this is minimal target, it could move higher.
On 1H chart we have great pattern on the back of this idea - reverse H&S. It is not totally completed yet, but shape is becoming clear. So, depending on what AB-CD pattern we will get, based on this pattern, we get corresponding upside target. For now it is around 71-72.5K
We consider no shorts by far.
ForexPeaceArmy BTC analytics :
www.forexpeacearmy.com/r/author/11/sive-morten-blog
FX, GOLD:
www.forexpeacearmy.com/community/forums/sive-morten-currencies-and-gold-video-analysis.122/
www.forexpeacearmy.com/r/author/11/sive-morten-blog
FX, GOLD:
www.forexpeacearmy.com/community/forums/sive-morten-currencies-and-gold-video-analysis.122/