Bitcoin Correction Price targets! Live stream this afternoon
We hit our 41,937 price target from December almost on the damn nose!
Clear bearish divergence at the 40,700 rejection yesterday.
I tried to take a couple small positions as we came down but the momentum just kept going. We had a lot of support at 32,300 but have found ourselves bouncing off the 30k handle.
I do not fully trust this is the bottom, but i dont think its the range we will start finding support in either. I think we MAY see a flash move down to lower areas where buy orders will be hit, resulting in a swift momentum to the upside. I dont really have a time frame but ive set up orders for when it happens
We are printing hidden bullish divergence on the MACD hourly chart, but im not sure if the momentum is strong enough to pull us back up higher than 33178 short term
That would be an area id watch for a reversal back to the downside. If we break the heartline support trend, and 30k support we could fill a futures gap as low as 25-26
I dont believe we will stay in that range but if you have cash on the side and want to do some averaging, id consider setting up a limit order for some lower levels
If we continue to the upside from here, i will be a buyer above 34500 if we get solid confirmation of support but im focused mainly on trying to land a nice lower position
29500
28500
27500
and a big one in at 26500
Clear bearish divergence at the 40,700 rejection yesterday.
I tried to take a couple small positions as we came down but the momentum just kept going. We had a lot of support at 32,300 but have found ourselves bouncing off the 30k handle.
I do not fully trust this is the bottom, but i dont think its the range we will start finding support in either. I think we MAY see a flash move down to lower areas where buy orders will be hit, resulting in a swift momentum to the upside. I dont really have a time frame but ive set up orders for when it happens
We are printing hidden bullish divergence on the MACD hourly chart, but im not sure if the momentum is strong enough to pull us back up higher than 33178 short term
That would be an area id watch for a reversal back to the downside. If we break the heartline support trend, and 30k support we could fill a futures gap as low as 25-26
I dont believe we will stay in that range but if you have cash on the side and want to do some averaging, id consider setting up a limit order for some lower levels
If we continue to the upside from here, i will be a buyer above 34500 if we get solid confirmation of support but im focused mainly on trying to land a nice lower position
29500
28500
27500
and a big one in at 26500
Comment:
If you are in the red on a long position, the chart says there is more risk in selling, than in holding.