The low was set for BTCUSD on 12-May at $25,365.
A higher low came in on 26-May but prices recovered right before hitting the 0.618 Fib. retracement level;
The short-term chart technicals are now favoring the bulls.
We can see EMA50/EMA100 being conquered on the 2H timeframe...
Nay, this level we consider conquered only if BTCUSD closes above $29,338 before the days close.
We see the $31,300 / $31,400 price range as the next target maybe within a day or two...
It will take longer before $34/$35K but can actually get even better...
Let's not get ahead of ourselves.
After 9 weeks of RED/BLOOD, it is hard to adapt to the fact that a bullish relief rally is already on.
From ~$25,500 to ~$29,500 we have already over 15% growth.
Hasta luego!
A higher low came in on 26-May but prices recovered right before hitting the 0.618 Fib. retracement level;
The short-term chart technicals are now favoring the bulls.
We can see EMA50/EMA100 being conquered on the 2H timeframe...
Nay, this level we consider conquered only if BTCUSD closes above $29,338 before the days close.
We see the $31,300 / $31,400 price range as the next target maybe within a day or two...
It will take longer before $34/$35K but can actually get even better...
Let's not get ahead of ourselves.
After 9 weeks of RED/BLOOD, it is hard to adapt to the fact that a bullish relief rally is already on.
From ~$25,500 to ~$29,500 we have already over 15% growth.
Hasta luego!
Trade closed: target reached
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🚨 You need PREMIUM trade-numbers to profit from Cryptocurrencies —Best timing & amazing results! 👉 lamatrades.com (Since 2017)
💥💥💥 Early 2025 Results (NEW)
t.me/masteranandatrades/6119
🏆 FREE Trade-Numbers
anandatrades.com
💥💥💥 Early 2025 Results (NEW)
t.me/masteranandatrades/6119
🏆 FREE Trade-Numbers
anandatrades.com
Related publications
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.