Morning folks,
So, last time BTC was not able to show retracement that we've suggested. In fact by the end of the session, no reversal day was formed. It was some fake alarm. Our long-term 110K target has been completed, so monthly grabber has reached the minimum target.
But for now we see nothing to do. We consider no shorts. Market stands confidently around the top, without sharp drop back, it is not at overbought or at some strong resistance, so it could keep going higher. Next our upside target is 118.75K. So we could keep existed longs, just don't forget to manage stops.
If downside pullback still starts it might become good chance for long entry again. Market now is driven by rebalancing portfolios of big funds that have to sell US assets as they lost AAA rating. This explains why dollar is falling while yields are raising. This is not fast process and probably will last for some time more.
So, last time BTC was not able to show retracement that we've suggested. In fact by the end of the session, no reversal day was formed. It was some fake alarm. Our long-term 110K target has been completed, so monthly grabber has reached the minimum target.
But for now we see nothing to do. We consider no shorts. Market stands confidently around the top, without sharp drop back, it is not at overbought or at some strong resistance, so it could keep going higher. Next our upside target is 118.75K. So we could keep existed longs, just don't forget to manage stops.
If downside pullback still starts it might become good chance for long entry again. Market now is driven by rebalancing portfolios of big funds that have to sell US assets as they lost AAA rating. This explains why dollar is falling while yields are raising. This is not fast process and probably will last for some time more.
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.
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.