Bitcoin
Short

Next Upside BTC target is 126-127.30K. Beware of Overbought

109
Morning folks,

So BTC not has just formed big H&S but already completed it. But it is not a reason for upset. We consider 126-127.30K as the next upside target, based on weekly butterfly scenario.

Still, due to very fast action market hits overbought on daily chart. We prefer to wait for tactical pullback, somewhere to 117K or or even 115.3K support levels before thinking about long entry.

I mark this idea as" bearish" because of retracement expectations, but overall context is bullish of course...

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.