Hello there,
The BTCUSD on the monthly chart shows that the previous bull candle opened higher than the high of its third candle and engulfed the high of the second candle in a strong bullish trend, indicating a potential bullish continuation beyond this candle in the near future.
The current monthly candle has a low that is higher than the open of the Mon 01, 2021 candle, suggesting a possible move to surpass the previous major high.
Therefore, we may observe either a bearish ABC formation or a break of the current candle's high.
Overall, the trend is bullish, and for this timeframe, a price above 67325 will present a potential entry point for reaching highs of 87073 to 104388.
However, if the price loses momentum and falls below 53350.7 there could be a trend change leading to a move towards the B area.
Bullish interests here in this timeframe.
Happy Trading,
K.
The BTCUSD on the monthly chart shows that the previous bull candle opened higher than the high of its third candle and engulfed the high of the second candle in a strong bullish trend, indicating a potential bullish continuation beyond this candle in the near future.
The current monthly candle has a low that is higher than the open of the Mon 01, 2021 candle, suggesting a possible move to surpass the previous major high.
Therefore, we may observe either a bearish ABC formation or a break of the current candle's high.
Overall, the trend is bullish, and for this timeframe, a price above 67325 will present a potential entry point for reaching highs of 87073 to 104388.
However, if the price loses momentum and falls below 53350.7 there could be a trend change leading to a move towards the B area.
Bullish interests here in this timeframe.
Happy Trading,
K.
Trade closed manually:
Alright, many months ahead...