BTCUSD - The Retrace is over
The break of $9200 level, on 24 April 2018, signaled the official end of the dip/retrace started on 8 January 2018.
Good News:
- The market is now technically bullish again!
- The UpTrend started on 2015 is still intact, and a new up-wave within such uptrend has just started.
Bad News:
- Sentiment, after such a big dip, while technically bullish, investors might still be a bit scared about going All-in buy again.
- Momentum, or lack of it.
The highest point of this market is around $20000, and current price (as of this moment) is around $9250, the market will have to grow of +100% only to reach the previous highs!
Technically speaking, everything is green again.
From a Sentiment and Momentum side however, caution is advisable.
Watch out for $5900 on the downside, a break of such level would mean the official end of the much loved uptrend that pushed btcusd up from $370 level.
As long as we stay above $5900, things looks ok for bulls.
More updates to come :)
Good News:
- The market is now technically bullish again!
- The UpTrend started on 2015 is still intact, and a new up-wave within such uptrend has just started.
Bad News:
- Sentiment, after such a big dip, while technically bullish, investors might still be a bit scared about going All-in buy again.
- Momentum, or lack of it.
The highest point of this market is around $20000, and current price (as of this moment) is around $9250, the market will have to grow of +100% only to reach the previous highs!
Technically speaking, everything is green again.
From a Sentiment and Momentum side however, caution is advisable.
Watch out for $5900 on the downside, a break of such level would mean the official end of the much loved uptrend that pushed btcusd up from $370 level.
As long as we stay above $5900, things looks ok for bulls.
More updates to come :)
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