26.5-26.8 is a vital area for the bulls
Morning folks,
As we've warned you last time - don't be too happy with debt ceil rally, as it is nothing to celebrate by far. Formally, BTC keeps bullish scenario valid, but it stands at the edge. We suggest that 26.5-26.8 is a vital area for the bulls, because this is last logical retracement level.
Downside breakout opens road to next 23K support and target area. It means that bears should wait for breakout under 26.5 or lower to think about short entry, while bulls should wait when xop (blue) target will be reached, then turn to 1H chart and watch for bullish pattern (say, reverse H&S) for position taking.
As we've warned you last time - don't be too happy with debt ceil rally, as it is nothing to celebrate by far. Formally, BTC keeps bullish scenario valid, but it stands at the edge. We suggest that 26.5-26.8 is a vital area for the bulls, because this is last logical retracement level.
Downside breakout opens road to next 23K support and target area. It means that bears should wait for breakout under 26.5 or lower to think about short entry, while bulls should wait when xop (blue) target will be reached, then turn to 1H chart and watch for bullish pattern (say, reverse H&S) for position taking.
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/
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.