Quick look at BTC. Don't run for the hills just yet. We just finished the bullish inverse head and shoulders pattern on BTCUSD and we're looking for a way to climb up the hill. The key here is we need some good volume to help us confirm the trend which we haven't been able to find.
We'll be watching closely as RSI is currently oversold and we hope to see a new uptrend channel confirmation. If we see a break below the channel in green lines we can see fib retracement back to the $9400 levels. If it does continue on the uptrend we'll want to see a break above the $1200 mark resistance. We'll be keeping a close eye on this.
We're currently long on BTC.
Cheers!
We'll be watching closely as RSI is currently oversold and we hope to see a new uptrend channel confirmation. If we see a break below the channel in green lines we can see fib retracement back to the $9400 levels. If it does continue on the uptrend we'll want to see a break above the $1200 mark resistance. We'll be keeping a close eye on this.
We're currently long on BTC.
Cheers!
Comment:
Target Reached: Broke green lines and hit our $9400 right on the money