Analysis on Bitcoin (1H timeframe): first some little break under the flag, followed by the confirmation and then probably the real break to the 29k - 29.5K area will follow.
Comment
⋅
Price going down, as expected.
Comment
⋅
We are not far from the target in the chart, but I don't think the dump will stop there, probably going fully to 29K. If there is not enough support there, the next major support would be around 24K.
Comment
⋅
Target almost reached. Sooner or later it will come there. Lower high, lower low, this is how it goes now. And, again, if 29K will not hold pretty well, 24K is the bouncing level.
Trade closed: target reached
⋅
29k reached, but, again, if 29K is not holding, 24K is next.
what do you think about bitcoin retesting 31k again ?
fortitude23
⋅
@quack1106, it all depends on what happens this week and if 29k is holding. We have a week of volatility in front of us, and if 29k is holding, we could see next week or soon enough 31k and try again for 32k. But frankly I don't believe will happen, there is not much liquidity left above 30k. The most liquidity now is around 24k.