BTCUSD did not manage to touch or break the 10k on Bitfinex which was not really suprising to me. Therefor the market took the chance to retrace. Now the question is, are we ready for the next run towards the psychological 10k barrier?
I believe the retracement is completed and we are heading towards and perhaps breaking the 10k:
- Price found support at the 2nd arc pair
- We did not touch the top of the 2nd square
- Volume on 60min red candles declined -> shortage of supply
- BTCUSD Shorts (Bitfinex) did not rise further
Things to look out for:
- I am missing is a proper demand bar (high volume green candle). That would confirm further upward movement.
- Break of 9450 which is the end of the 1st down wave.
As always trade safe.
I believe the retracement is completed and we are heading towards and perhaps breaking the 10k:
- Price found support at the 2nd arc pair
- We did not touch the top of the 2nd square
- Volume on 60min red candles declined -> shortage of supply
- BTCUSD Shorts (Bitfinex) did not rise further
Things to look out for:
- I am missing is a proper demand bar (high volume green candle). That would confirm further upward movement.
- Break of 9450 which is the end of the 1st down wave.
As always trade safe.