May-15, BTC 1hr analysis, LONG at 9678 and SHORT at 9516
Summary
SHORT TERM VIEW
Today BTC went below 9591 and met the SHORT opportunity I posted yesterday. BTC quickly hit the first target 9375, and got supported by the uptrend-line - therefore it didn't hit the second target 9200
If we take a closer look at accelerated uptrend starting from 8830 all the way up to 9940, the plunge happened this morning is a 61.8% Fib Retracement of this range
Within this range, we have 2 SHORT TERM opportunities
MID-LONG TERM VIEW
I will upload a longer term view in chart and a more detailed explanation tomorrow. In a nutshell, for MID-LONG term, BTC needs to rest at 8561 to 10084 for a while, and then decides the direction.
Hope this helps. Have a nice weekend everyone!
- LONG at 9678, with target 9940, close to 10084, stop loss at 9516
- SHORT at 9516, with target 9254, close to 9100, stop loss at 9678
SHORT TERM VIEW
Today BTC went below 9591 and met the SHORT opportunity I posted yesterday. BTC quickly hit the first target 9375, and got supported by the uptrend-line - therefore it didn't hit the second target 9200
If we take a closer look at accelerated uptrend starting from 8830 all the way up to 9940, the plunge happened this morning is a 61.8% Fib Retracement of this range
Within this range, we have 2 SHORT TERM opportunities
- LONG when BTC goes above 9678, the 61.8% of the range, with a target of 9940 and hopefully it will hit close to the 10084 resistance. Stop loss is set at 9516
- SHORT when BTC goes below 9516, the 38.2% of the range, with a target of 9254. Stop loss is set at 9678.
MID-LONG TERM VIEW
I will upload a longer term view in chart and a more detailed explanation tomorrow. In a nutshell, for MID-LONG term, BTC needs to rest at 8561 to 10084 for a while, and then decides the direction.
- Going below 8561 - bearish
- Going above 10084 - bullish
Hope this helps. Have a nice weekend everyone!
Comment:
The requirement of SHORT opportunity is met and we can see the uptrend in short term no longer upholds