27.2K seems vital for now
Morning folks,
Technically we could say that situation remains bullish, as market is coiling right around daily resistance area and stubbornly doesn't want to show deeper retracement that we've discussed last time, so we haven't got better entry levels by far.
From the fundamental background - we do not clearly understand reasons for euphoria. The sentiment is based on some blur expectations concerning ETF and other things. It is definitely not enough by our view to go against high interest rates, raising dollar and negative processes in the US economy, including global politics.
Anyway, for now, since context remains bullish by far, if you want to buy - try to do it as close to 27K lows as possible, just to minimize the risk. If BTC breaks this level down - deeper downside action happens. While it stands in triangle - it keeps chances on upside continuation right from current levels.
Technically we could say that situation remains bullish, as market is coiling right around daily resistance area and stubbornly doesn't want to show deeper retracement that we've discussed last time, so we haven't got better entry levels by far.
From the fundamental background - we do not clearly understand reasons for euphoria. The sentiment is based on some blur expectations concerning ETF and other things. It is definitely not enough by our view to go against high interest rates, raising dollar and negative processes in the US economy, including global politics.
Anyway, for now, since context remains bullish by far, if you want to buy - try to do it as close to 27K lows as possible, just to minimize the risk. If BTC breaks this level down - deeper downside action happens. While it stands in triangle - it keeps chances on upside continuation right from current levels.
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/
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