BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
BTC is getting slowly overbought. However, I see one more push to 44 k to test the 200 ma on the daily frame. This will unfold in a strong reaction to retest the 36 k level and possibly the 34400. Do not fear and do not listen to the dooms conversations at those levels. The retracement is a normal breath after 10 days of gains. It s a healthy reaction. I will place buy orders at 36 and 34 k This will have a great RR (5 at 36 and 11 RR if we touch the 34 k level) with a target of 54k (note that this will be the first conservative target) the second target will be at 68k (everything will need to be reassessed at 54k ).
Have a great weekend.