Hi Traders,
We have seen a nice retrace back up to the 0.618 Fib, also testing past support. We would like to see price come down and test the area within the grey box ($17500-$17850) and to also gain some more liquidity. RSI is in the overbought area on the 4hr chart signalling a potential short term fall in price. However, we have seen an accumulation of bitcoin which leads to think that there is still more upward movement to come.
Thanks
The Market Sniper Team
We have seen a nice retrace back up to the 0.618 Fib, also testing past support. We would like to see price come down and test the area within the grey box ($17500-$17850) and to also gain some more liquidity. RSI is in the overbought area on the 4hr chart signalling a potential short term fall in price. However, we have seen an accumulation of bitcoin which leads to think that there is still more upward movement to come.
Thanks
The Market Sniper Team