BTC/USD- Free to Run towards 29K or Cliff Dive?
Congrats to those that took the entry from the last chart.
Should have got you in around the 21450USD for a minimum 12% gain.
Now we are waiting to see if the previous resistance can flip to support.
Looks promising, but early days. (21hrs until daily close- look for it to hold the new support throughout the day)
If we do see some confident support from the previous resistance level we should see a pretty clear ride towards 29K.
(Very limited resistance historically from 25k-29K)
It may stall out around the 26700USD but even here there is minimal historic resistance.
Might be a nice time to be holding some alts that often piggy back BTC gains.
The alternate- is that we see a significant retrace.
Cliff Dive to retest 19KUSD - if we get that option it wont last long.
Orders to be set.
Caution still advised on all entries as many remain in the market to claw back losses rather than make paper.
Tight SL's on entries might be useful.
As always, just my own thoughts and TA
Feedback Welcomed.
Bingaz.
Should have got you in around the 21450USD for a minimum 12% gain.
Now we are waiting to see if the previous resistance can flip to support.
Looks promising, but early days. (21hrs until daily close- look for it to hold the new support throughout the day)
If we do see some confident support from the previous resistance level we should see a pretty clear ride towards 29K.
(Very limited resistance historically from 25k-29K)
It may stall out around the 26700USD but even here there is minimal historic resistance.
Might be a nice time to be holding some alts that often piggy back BTC gains.
The alternate- is that we see a significant retrace.
Cliff Dive to retest 19KUSD - if we get that option it wont last long.
Orders to be set.
Caution still advised on all entries as many remain in the market to claw back losses rather than make paper.
Tight SL's on entries might be useful.
As always, just my own thoughts and TA
Feedback Welcomed.
Bingaz.
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