I would like to give a quick update on BTC and its predicted bull run in June/July
BTC WXY correction is heading toward the golden ratio 0.618 and 0.786. It is hard to predict where the correction will end between this range. Buying momentum will increase as it approaches 0.618 and rally weakly then BTC could fall to 0.786. Time will tell. However, overall this range has an impressive buy power from the bull, this will potentially boost the market up to the next bull run in June/July. Where is it heading forward prospectively? We are looking at the assumption of 1.618 Fib extension which is around 13000. That is pretty ideal for swing traders. However, in the short run, BTC will face lots of rocky situations as it has been over the last 3 months. Specially, we are looking at the last testing resistance level at 11700 to see whether we have got out of the wood.
Confirmation signal would be the deadcross turn over of 55 and 200 EMA.
If you find the TA is useful, then give me a thumbs up and click follow for more regular update as I spend a lot of time to observe the price action to give you all the most possible market prediction as I can and many thanks :)
Check out my previous TA
Disclaimer
I am not a financial adviser. Trading is extremely personalised so trust your TA and skills
BTC WXY correction is heading toward the golden ratio 0.618 and 0.786. It is hard to predict where the correction will end between this range. Buying momentum will increase as it approaches 0.618 and rally weakly then BTC could fall to 0.786. Time will tell. However, overall this range has an impressive buy power from the bull, this will potentially boost the market up to the next bull run in June/July. Where is it heading forward prospectively? We are looking at the assumption of 1.618 Fib extension which is around 13000. That is pretty ideal for swing traders. However, in the short run, BTC will face lots of rocky situations as it has been over the last 3 months. Specially, we are looking at the last testing resistance level at 11700 to see whether we have got out of the wood.
Confirmation signal would be the deadcross turn over of 55 and 200 EMA.
If you find the TA is useful, then give me a thumbs up and click follow for more regular update as I spend a lot of time to observe the price action to give you all the most possible market prediction as I can and many thanks :)
Check out my previous TA
Disclaimer
I am not a financial adviser. Trading is extremely personalised so trust your TA and skills
