Morning folks,
So, BTC has got rather strong positive injection from JP so it has not formed even minor pullback before the rally that we have discussed lat time. Now market has no significant barriers till the former ATH top. Besides, based on the market mechanics, BTC should not show any deep retracements any more.
It means that currently we could consider only more or less moderate pullbacks for new position taking. Now price stands at Overbought on daily chart and 56.6K is extension resistance (not shown here). It gives us some chances that BTC could show some pullback starting somewhere around current levels.
In this case we could keep an eye on few support levels for new entry. Our favor stands at 50.30K K-support area which seems most reliable for this purpose.
So, BTC has got rather strong positive injection from JP so it has not formed even minor pullback before the rally that we have discussed lat time. Now market has no significant barriers till the former ATH top. Besides, based on the market mechanics, BTC should not show any deep retracements any more.
It means that currently we could consider only more or less moderate pullbacks for new position taking. Now price stands at Overbought on daily chart and 56.6K is extension resistance (not shown here). It gives us some chances that BTC could show some pullback starting somewhere around current levels.
In this case we could keep an eye on few support levels for new entry. Our favor stands at 50.30K K-support area which seems most reliable for this purpose.
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/