BTC keeps bullish context
Morning everybody,
On daily chart we have two bullish signs. First is, market is forming bullish dynamic pressure - MACD trend is bearish but price action is not and forming higher lows. Second, as we've mentioned last time we have DRPO "Sell" failure, suggesting some way of upward action.
Besides, we suggest that recent Binance punishment will support BTC price, especially at the eve of ETF approvement. People start withdraw coins out from exchanges to wallets, cutting free flow.
Shortly speaking, we do not consider any shorts by far, suggesting that some way of upside action could happen. We keep the same 36K lows as invalidation area for this short-term scenario.
On daily chart we have two bullish signs. First is, market is forming bullish dynamic pressure - MACD trend is bearish but price action is not and forming higher lows. Second, as we've mentioned last time we have DRPO "Sell" failure, suggesting some way of upward action.
Besides, we suggest that recent Binance punishment will support BTC price, especially at the eve of ETF approvement. People start withdraw coins out from exchanges to wallets, cutting free flow.
Shortly speaking, we do not consider any shorts by far, suggesting that some way of upside action could happen. We keep the same 36K lows as invalidation area for this short-term scenario.
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/
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.