BTC/USD - Hitting 1 last stop before running out of fuel
Updated
The pink dotted lines you see represent previous S&R lines that are still valid.
Target1: $7000.00 -> Based off of previous S&R line, and a Fib level that converges at the same level, I believe this is the last stop before BTC will turn around.
Target2: $7700.00 - $7800.00 -> If BTC continues past Target 1 then I believe it will roughly hit the 200 SMA around this level and bounce back
Target3: $8000.00 -> If BTC is able to move a little past the 200 SMA without immediately bouncing off, I think the highest we will see it before diverging would be $8000.00
Target1: $7000.00 -> Based off of previous S&R line, and a Fib level that converges at the same level, I believe this is the last stop before BTC will turn around.
Target2: $7700.00 - $7800.00 -> If BTC continues past Target 1 then I believe it will roughly hit the 200 SMA around this level and bounce back
Target3: $8000.00 -> If BTC is able to move a little past the 200 SMA without immediately bouncing off, I think the highest we will see it before diverging would be $8000.00
Trade closed manually
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