Long-term Trend
Updated
I'm still bullish on BTC.
We've hit bottom on June and price is in correction.
However, we don't have strong momentum to move up immediately.
We've almost reached 0.786 retracement level.
Probability of seeing a lower low is very unlikely.
We've seen a bullish divergence on the stochastic oscillator and this bullish momentum is still valid.
I believe upward correction will reach around 0.236 or 0.382 Fibonacci retracement level.
60MA is a strong resistance level for now.
Since bullish momentum is weak, we won't be able to breach this resistance immediately, but we will breach within the next few weeks to months.
We've hit bottom on June and price is in correction.
However, we don't have strong momentum to move up immediately.
We've almost reached 0.786 retracement level.
Probability of seeing a lower low is very unlikely.
We've seen a bullish divergence on the stochastic oscillator and this bullish momentum is still valid.
I believe upward correction will reach around 0.236 or 0.382 Fibonacci retracement level.
60MA is a strong resistance level for now.
Since bullish momentum is weak, we won't be able to breach this resistance immediately, but we will breach within the next few weeks to months.
Trade closed: target reached
We've reached the 0.382 retracement level.
Price has hit 60 MA and is having a small correction.
More profit will come but we must take profit at this point.
I've managed to take profit from half of my investment.
I'll post another update soon.
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