I think we are really close to bigger bounce off. Not there yet, but definitely we are coming for it. Bulls are about to start the fight and reverse this correction.
We can see the bull divergence on the 1H-4H TF, which is very positive for an upward movement. Also the momentum slowly catches there.
And what's more? A falling wedge is formed.
Target --> 362.2 USD
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A) A break below is a short term sell signal targeting 3032/30 - 3025, perhaps as far as 3015. The first resistance is at 3100but shorts need stops above 3120.
B) A break above the 3156 high this week targets 3160 and 3185, perhaps as far as 3200.
Good luck trading!
Some fundamental analysis research:
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Well, the BTC correction has been triggered. Just another good opportunity to fill our bags.
Everything I can see right now you can find on the chart.
This would be most probably the zone of interest, where many buyers will be looking for their longs. They are just taking their time for sure. I expect that one more testing we gonna see at least.
After this nice consolidation we can see there a pretty good formation of iHaS.
It will be some time since the monthly momentum got on the positive side so far. That is also a very positive signal to me.
My buy zones are shown in the chart. If we could break and close above these peaks which are our resistances, then it will be a good opportunity to entry the market.