20.25K looks interesting for entry
Morning folks,
Markets finally get tactical relief and show pullback across the board - Dollar Index, EUR, GBP etc., everything is bouncing. But what is BTC? It is not. Flat action, any attempt to show the bounce sells off fast. This makes us think on existence of bearish pressure. As a target we consider daily AB-CD with 16.20K destination point. Market has set the new lows on daily chart, so we can't use the butterfly pattern any more as it has been erased.
On intraday chart price stands in the range, which is also potentially bearish. Appearing of "222" Sell pattern here, with potential starting point around 20-20.25K looks interesting for consideration of taking short position. At least this pattern gives chance to place very tight stop, so risk will be minimal
Markets finally get tactical relief and show pullback across the board - Dollar Index, EUR, GBP etc., everything is bouncing. But what is BTC? It is not. Flat action, any attempt to show the bounce sells off fast. This makes us think on existence of bearish pressure. As a target we consider daily AB-CD with 16.20K destination point. Market has set the new lows on daily chart, so we can't use the butterfly pattern any more as it has been erased.
On intraday chart price stands in the range, which is also potentially bearish. Appearing of "222" Sell pattern here, with potential starting point around 20-20.25K looks interesting for consideration of taking short position. At least this pattern gives chance to place very tight stop, so risk will be minimal
ForexPeaceArmy BTC analytics :
forexpeacearmy.com/r/author/11/sive-morten-blog
FX, GOLD:
forexpeacearmy.com/community/forums/sive-morten-currencies-and-gold-video-analysis.122/
forexpeacearmy.com/r/author/11/sive-morten-blog
FX, GOLD:
forexpeacearmy.com/community/forums/sive-morten-currencies-and-gold-video-analysis.122/
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