Morning folks,
So, our 3-Drive and H&S pattern that we've discussed have completed. But, as we consider 45K level as major target for this trading setup - we expect continuation.
Meantime, market hits 42.6K target and 3/8 Fib resistance on daily chart. It needs some tactical pullback. We suggest that 41-41.2K support is the most probable area.
Then, if everything remains the same, upside action should continue with larger scale H&S pattern on 4H chart. But, the pullback is our first step.
I mark setup as bearish, but only because of expected pullback. In general we have bullish view in short-term.
So, our 3-Drive and H&S pattern that we've discussed have completed. But, as we consider 45K level as major target for this trading setup - we expect continuation.
Meantime, market hits 42.6K target and 3/8 Fib resistance on daily chart. It needs some tactical pullback. We suggest that 41-41.2K support is the most probable area.
Then, if everything remains the same, upside action should continue with larger scale H&S pattern on 4H chart. But, the pullback is our first step.
I mark setup as bearish, but only because of expected pullback. In general we have bullish view in short-term.
ForexPeaceArmy BTC analytics :
www.forexpeacearmy.com/r/author/11/sive-morten-blog
FX, GOLD:
www.forexpeacearmy.com/community/forums/sive-morten-currencies-and-gold-video-analysis.122/
www.forexpeacearmy.com/r/author/11/sive-morten-blog
FX, GOLD:
www.forexpeacearmy.com/community/forums/sive-morten-currencies-and-gold-video-analysis.122/