63K looks interesting for long entry
Updated
Morning folks,
As we've promised on Thu last week, the close of the week will be most important thing that could change everything. That has happened. AS BTC has closed 5K higher - we haven't got any bearish engulfing on monthly chart for now.
But what is more important - we have bullish grabber on weekly, suggesting that price should challenge ATH again. Not necessary the breakout should follow, but re-test it at least.
Thus, based on intraday performance, it might happen that now we're getting reverse H&S pattern, and an area around 63K where the right arm might be formed, seems interesting for long entry...
As we've promised on Thu last week, the close of the week will be most important thing that could change everything. That has happened. AS BTC has closed 5K higher - we haven't got any bearish engulfing on monthly chart for now.
But what is more important - we have bullish grabber on weekly, suggesting that price should challenge ATH again. Not necessary the breakout should follow, but re-test it at least.
Thus, based on intraday performance, it might happen that now we're getting reverse H&S pattern, and an area around 63K where the right arm might be formed, seems interesting for long entry...
Trade active
So, guys - everything according to our expectations. H&S stands in place and the only thing that we need to do is to make a decision, would we want to participate or not...
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.