BTC The next leg up
BTC did a nice retrace and is now ready to make the next move up.
The fib extensions show that we could reach $4,300 as early target and $4,600 as the bigger target with enough momentum behind the move.
Stoch RSI on the 4 hours is showing a reversal and is signalling buy.
MACD Is also turning around and is about to cross bullish again.
Overall sentiment is bullish and a high probability of making new highs. If we can break down some down trends, I think we may repeat history and test $5,000 at which point we retrace and consolidate and get ready for the bigger move.
The fib extensions show that we could reach $4,300 as early target and $4,600 as the bigger target with enough momentum behind the move.
Stoch RSI on the 4 hours is showing a reversal and is signalling buy.
MACD Is also turning around and is about to cross bullish again.
Overall sentiment is bullish and a high probability of making new highs. If we can break down some down trends, I think we may repeat history and test $5,000 at which point we retrace and consolidate and get ready for the bigger move.
Note
Currently in test of the trend line. $3,900 bounce = bullish. Breakdown will break analysis and we may end up retesting $3,800 support.Note
Massive dump on trend line break. watching carefully for possible bounces on previous supports.Note
Looking for bounces on $3,600 and $3,400
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