Bitcoin Staging Next Rally
Updated
BTCUSD retraced 50% of its all-time gains on January 17. The same trading day saw BTCUSD retrace 61.8% of gains since November 17 as well as a test of the 144 day EMA, which has acted as dynamic support going all the way back to October 2015. These are signs of a healthy correction and indicate the up trend in BTCUSD is in tact.
My limit orders filled at 10k, 10.1k, and 10.2k. I have a stop below 9.3k just in case price wants to retrace deeper toward the 7.5k area and my target is "to the moon!"
Note
Please see my updated analysis taking into account recent price action of the crypto market and historical trends in Bitcoin price.
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