More Upside For BTC?
Presently BTC is sitting in a period where neutral seems to be the best outlook and bullish on the short term.
Looking at the wave trend oscillator we can see the momentum waves are rotating to the upside. We have seen price make decent push back to the upside but is presently stuck at the value area low.
IF there is more downside potential as shown in our last model we could see a rejection here or slightly higher. With momentum rotating to the upside it looks more like we will see a larger push up closer to the high volume area around 65k with out brakeing the down trend model.
IF more upside for a potential higher high I would still expect a reaction in the 65k area but a brake out from here braking the down ward momentum would be a good indication there is more room for more upside.
Trade Well...
Your Friend,
Degen
Looking at the wave trend oscillator we can see the momentum waves are rotating to the upside. We have seen price make decent push back to the upside but is presently stuck at the value area low.
IF there is more downside potential as shown in our last model we could see a rejection here or slightly higher. With momentum rotating to the upside it looks more like we will see a larger push up closer to the high volume area around 65k with out brakeing the down trend model.
IF more upside for a potential higher high I would still expect a reaction in the 65k area but a brake out from here braking the down ward momentum would be a good indication there is more room for more upside.
Trade Well...
Your Friend,
Degen
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