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Bitcoin Price Action.

Long
BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
With Bitcoin price action moving higher I thought that I can share with you my view on a Daily chart with some simple market geometry and some fib measurements which contain some critical levels including the golden zone fight that we keep on seeing since 2019.
What caught my attention is the second break of the white trendline but not with as much significant volume as the first attempt. In my eyes, this next move is exactly what we need if we want to see that 2019 high challenged. It has all the ingredients for a plunge to the 14k pivot where we faced a very big resistance last year and the algorithm participation was incredibly precise. Bitcoin has 2 more significant pivots to break ( 14k , 20k) until we will be again in a no man's land and the FOMO will kick in. Stay close, manage your asset classes accordingly. Don't risk more than you are willing to lose!

I wish you guys a wonderful week!

Comments

Target almost realised, careful with the next move! Definitely, I wouldn't be a buyer here!
Reply
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