grsatt

BTC Short Term Outlook

Long
BITMEX:XBTUSD.P   Bitcoin
Didn't expect that recent move up, but at least i was sitting flat.. from this point one can only react.

Price is currently moving back towards $6800 resistance with increased buying volume after making a definitive higher low. Since we've already wicked up to this supply zone twice, in my opinion it won't take a lot of strength to finally break through a third time around.

I have bids staggered from roughly 6560 down to 6390 (see blue horizontals), but if these don't fill I will look to enter long if the price consolidates around $6800.

Target 1: $7800

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.