BTCUSD bounce on 20MA. Next target?

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
White fib lines=smaller fib
Purple fib lines=bigger fib
Big red lines=Resistance/support lines.

Green curve=20MA
Red curve=50MA
White curve=200MA

Will we be able to break 10200 level this weekend or even today? Or are we going lower again? We've two fib levels to travel between(10242 & 9831).
Comment: We will probably travel between 10242 & 9831 for a while.
Comment: We will meet some resistance here around 10700-11200
I think we have a correction coming, down to $9,000-9,500.
+1 Reply
hza Box1515
@Box1515, we deffinetly need to have a correction in mind! Mostly psychological trading now.. The 10k barrier will be a hard one to break!
@hza, It's all about Risk-Reward

best case: BTC goes up to 11.300 USD before correction (+1.3k)
worst case: BTC goes down to 7.650 USD because of psychological border and fading FOMO (-2.3K)

That's a bad ratio so I wouldn't open this position.
+1 Reply
hza sebastian.soik
@sebastian.soik, Thanks for sharing your insight!
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