As you can see here BTCUSD made its move sooner than my projected pathway however it still has not gained the support of the 200 MA on this one hour chart which will be key for a continued bullish momentum. To me this indicates that there is a potential for a retrace here and then another attempt will be made, so be cautious here.
In my next chart we will move in closer to see where it actually has gained the support of the 200 MA and will likely be the 15 min or 30 min chart.
In my next chart we will move in closer to see where it actually has gained the support of the 200 MA and will likely be the 15 min or 30 min chart.
Comment:
Reworking this chart again and you can now see that the big bullish move up has really drawn the 50 MA skyward. This is looking great!
