Morning folks,
As Fed has chosen money printing strategy we postone scenario with downside collapse to 9-12K area for 6-9 months. Now, additional liquidity flow should stabilize as stocks as BTC market, and even let him to rise a bit.
In short-term we consider the same 21.95-22.25K support area on 4H chart as then one, where BTC potentially could turn up again and keep moving to our 25.5-26.2K target. But the shape of reversal might be different, although it has minor value to the overall scenario.
Personally, I like this one - if price finally completes our XOP target here and finalizes it by butterfly. But it is no problem to buy right now and not to wait for butterfly, if you able to place stop below 21.9K area.
We do not consider taking short positions by far.
As Fed has chosen money printing strategy we postone scenario with downside collapse to 9-12K area for 6-9 months. Now, additional liquidity flow should stabilize as stocks as BTC market, and even let him to rise a bit.
In short-term we consider the same 21.95-22.25K support area on 4H chart as then one, where BTC potentially could turn up again and keep moving to our 25.5-26.2K target. But the shape of reversal might be different, although it has minor value to the overall scenario.
Personally, I like this one - if price finally completes our XOP target here and finalizes it by butterfly. But it is no problem to buy right now and not to wait for butterfly, if you able to place stop below 21.9K area.
We do not consider taking short positions by far.
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/