Finally BTC has bounced from 29278 and is close to the resistance level of 35000 - 36000.
The movement was quite predictable, as we wrote it before. BTC continued to move in its "profit channel".
This week BTC has touched the bottom at the end of the week and we can see a good speculating effect of holidays.
But it is early for BTC to go higher. If this bottom began the new H4 uptrend line, than it should be retested soon.
We can also see a small GAP at 29650 that can also be closed.
Impulse - correction - impulse is over.
Be careful with your trades, and with your TV rates!
The movement was quite predictable, as we wrote it before. BTC continued to move in its "profit channel".
This week BTC has touched the bottom at the end of the week and we can see a good speculating effect of holidays.
But it is early for BTC to go higher. If this bottom began the new H4 uptrend line, than it should be retested soon.
We can also see a small GAP at 29650 that can also be closed.
Impulse - correction - impulse is over.
Be careful with your trades, and with your TV rates!
Trade closed: stop reached:
Unfortunately, but true. Shorting anyway!