from-67K - to- 60K action is possible
Morning fellows,
So our breakout setup is done well. What is looking intriguing now - BTC behaves quite different to gold, have you signed this?
Recent performance, especially if we get good NFP tomorrow suggests that retracement might be a bit deeper. We consider 60-60.5K area as potential target (because we could get weekly bearish engulfing pattern by this week).
But now BTC is overextended down on daily chart, so this action to 60.5K could start not know but after minor pullback, somewhere to ~ 66.5-67K area supposedly.
So, how to better mark this idea as "bearish" or "bullish?" Let's mark as "bullish", because downside action if it starts, probably will start on next week.
So our breakout setup is done well. What is looking intriguing now - BTC behaves quite different to gold, have you signed this?
Recent performance, especially if we get good NFP tomorrow suggests that retracement might be a bit deeper. We consider 60-60.5K area as potential target (because we could get weekly bearish engulfing pattern by this week).
But now BTC is overextended down on daily chart, so this action to 60.5K could start not know but after minor pullback, somewhere to ~ 66.5-67K area supposedly.
So, how to better mark this idea as "bearish" or "bullish?" Let's mark as "bullish", because downside action if it starts, probably will start on next week.
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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