So I posted a chart on the 15th of July for a potential fall in bitcoin towards 9000 in the medium term which played out nicely.
A sharp rebound has happened but we are still in a range bound situation and for BTC to jump higher we need to close the weekend above 11,000 At least.
Hello Traders, USD/JPY 108.967 / 108.856 VS 107.821 / 107.706.
Possible Short Term Buy looking for a Setup / Flag for a move towards 108.286 / 108.240
at which point we will look for the continuation / corrective / consolidation pattern VS 108.967 / 108.856
Or the possibility that it's still a part of the corrective structure for one more down move Retesting...
We can BUY BITCOIN because:
- BTCUSD shows us a Mirror Level 9614.0 and the price is above it at the time.
- It's possible to rise up to higher border of downward channel.
- Potential profit in 3...5 times bigger than risk.
Here are the key levels to watch for Bitcoin / USD on the daily timeframe.
The price of bitcoin is still over the kumo cloud.
The Lagging Span is actually encountering a green candle.
Downtrend scenario :
If the Lagging Span crosses the price and gets under it then that would be a first confirmation of a down trend.
In that case it would have to cross the blue...