A move to 6200$ is not likely at the moment.
Updated
Here is my trade plan
I don't think btc can get a breakout through $ 5336 - $ 5498 and therefore expect a retest of support.
The signs I see are that we short term will get a pullback to $ 4480 - $ 4355
What we can notice is that we recently had a goldencross where 50sma < 200sma on 12 h chart, something I see as a positive move in the market for the long term for here!
I don't think we will get any breakout to 6200 with the first, this I look at because we need more natural orders in growth within 4150 - 4900 arena
I expect this to be a new consulation phase where the 4180 - 4300 will be the new higher low.
As you know, I am no day trader and, I play with the big natural movements therefore I often see the longer time frame.
It is important not to be too bullish yet and expect us to get a soon breakout to 6200, this will not happen as we naturally need more time to come up to such a large line of resistance as we have there. I therefore expect a longer consolidation phase between 4380 - 5000 where mabye we will have some piks down to 4150.
-Start Selling pos from 4900
-Im out: 4780
-Key level to watch as support (NEW)entry: 4420 - 4244
-Stoplimit 4130 - 4100
-Panic Support 3700-3800
I don't think btc can get a breakout through $ 5336 - $ 5498 and therefore expect a retest of support.
The signs I see are that we short term will get a pullback to $ 4480 - $ 4355
What we can notice is that we recently had a goldencross where 50sma < 200sma on 12 h chart, something I see as a positive move in the market for the long term for here!
I don't think we will get any breakout to 6200 with the first, this I look at because we need more natural orders in growth within 4150 - 4900 arena
I expect this to be a new consulation phase where the 4180 - 4300 will be the new higher low.
As you know, I am no day trader and, I play with the big natural movements therefore I often see the longer time frame.
It is important not to be too bullish yet and expect us to get a soon breakout to 6200, this will not happen as we naturally need more time to come up to such a large line of resistance as we have there. I therefore expect a longer consolidation phase between 4380 - 5000 where mabye we will have some piks down to 4150.
-Start Selling pos from 4900
-Im out: 4780
-Key level to watch as support (NEW)entry: 4420 - 4244
-Stoplimit 4130 - 4100
-Panic Support 3700-3800
Trade active
Just a idea of what we can expect of btc the next 14days.
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