Sive-Morten

Road to 6400-6500 is open

COINBASE:BTCUSD   Bitcoin / U.S. Dollar
Morning guys,

As we've mentioned previously, to keep bullish sentiment, market should not show deep retracement. Particular speaking we were watching for
a kind of diamond consolidation on 4H chart.

BTC has completed this condition. Indeed that was true acceleration up, and retracement was shy. As market has no real barriers above, right to
our major target of 64-6500 Weekly K-resistance area, it should continue to climb higher.

On hourly chart we have nice channel and price stands at upper trendline . As '222" patterns were forming regular, we could watch for something of this kind. Now it seems that 5830-5850 area could be considered for potential long entry.
Let's see how it goes! I am out for now!



+1 Reply
Sive-Morten CryptoEngineering
@CryptoEngineering, Well, we're close to major resistance on weekly. So your decision is reasonable ...
Reply
So, we should see the correction first before the more upside?
Reply
Sive-Morten mosa.motamedi
@mosa.motamedi, Well, yes. (sorry for late comment). It has happened, but just to our first level - 3/8 Fib support.
Reply
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