Morning folks,
So, upside spike has happened and our 3-Drive + butterfly patterns are done. Although we haven't got continuation to 98K area that also was on a table.
Now short-term sentiment has changed. Recent data shows that the Fed doesn't need to hurry up with rate cut, yields turns up, so BTC also could follow the common tendency with deeper retracement.
This is the reason why we do not consider any longs today. As a nearest area that might be reached we consider 88.5-89K support.
So, for bulls it is nothing to do. If you're intraday trader, you could consider bearish positions from predefined Fib levels on the picture. 3-Drive hasn't reached its target yet, so 92.5-93K area still could be reached...
So, upside spike has happened and our 3-Drive + butterfly patterns are done. Although we haven't got continuation to 98K area that also was on a table.
Now short-term sentiment has changed. Recent data shows that the Fed doesn't need to hurry up with rate cut, yields turns up, so BTC also could follow the common tendency with deeper retracement.
This is the reason why we do not consider any longs today. As a nearest area that might be reached we consider 88.5-89K support.
So, for bulls it is nothing to do. If you're intraday trader, you could consider bearish positions from predefined Fib levels on the picture. 3-Drive hasn't reached its target yet, so 92.5-93K area still could be reached...
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.