I think a retest of the 10.5k levels is currently likely. BTC market tends to bullish sentiment again with a positive bitcoin funding premium index for a long time. A short term correction could take the longs out and create a further upward leg by retesting the old giant Residence Szone. Despite this, it is obviously possible that we will see higher local highs on small timeframes and stay in the trend channel before traders are taken out of the market.
But be careful as we had formed a similar fractal in April 19 and did not see a stronger correction. However, we did not have so many bullish traders back then either.
As I said, my short term target would be 10.5k. A bounce from this region sets me bullish on the weekly chart
But be careful as we had formed a similar fractal in April 19 and did not see a stronger correction. However, we did not have so many bullish traders back then either.
As I said, my short term target would be 10.5k. A bounce from this region sets me bullish on the weekly chart
Trade closed: target reached