Bounce at least to 43K
Morning folks,
So, Thu plan as worked accurately - BTC has dropped precisely to 41K support area. Now it stands oversold on daily chart and near strong Fib support.
Thus, we do not consider any shorts by far, but watching for scalp bullish positions instead, suggesting that upside bounce should be at least to 43K area (or even above the top if BTC wil form bullish daily grabber today).
Right now it is not clear what particular pattern will be in foundation of upside bounce, but in similar cases, markets very often form "222" pattern. Let's see...
So, Thu plan as worked accurately - BTC has dropped precisely to 41K support area. Now it stands oversold on daily chart and near strong Fib support.
Thus, we do not consider any shorts by far, but watching for scalp bullish positions instead, suggesting that upside bounce should be at least to 43K area (or even above the top if BTC wil form bullish daily grabber today).
Right now it is not clear what particular pattern will be in foundation of upside bounce, but in similar cases, markets very often form "222" pattern. Let's see...
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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