BTC/USD 12H cloud is just about ready to be entered, providing an edge to edge play of about 13% until the a full retrace of .5 fib since the start of this entire down trend.
Would like to see some heavy volume come in on the pierce and breka throught the down trend line. We do have a tenken cross buy signal on the 12, so things are looking good.
For local retrace support I would look at $10,000 mark, with $9,500 being a more proper fib retrace but at this point our bullish momuntum is picking up quite well and it's becoming less likely for us to test those lows.
Trend : Bullish
Play : Edge to edge 12H cloud
Time Frame : 1 Week
Would like to see some heavy volume come in on the pierce and breka throught the down trend line. We do have a tenken cross buy signal on the 12, so things are looking good.
For local retrace support I would look at $10,000 mark, with $9,500 being a more proper fib retrace but at this point our bullish momuntum is picking up quite well and it's becoming less likely for us to test those lows.
Trend : Bullish
Play : Edge to edge 12H cloud
Time Frame : 1 Week