BTCUSD UPDATE
BITCOIN UPDATE
Market failed to break above daily resistance after completing the M formation at the neckline which we spoke about a number of times, now on the daily timeframe market is still below daily resistance and has this bearish impulse which is now being followed by a correction. we could easily see another rejection tomorrow of the daily resistance which i have marked out on my chart before seeing the continuation to the downside..... the target would be 52k on the fibonacci if we do see another fall. Bare in mind shorting such a bullish market is extremely high risk and we likely wont be looking to enter this position but instead waiting for these falls to be over.
Market failed to break above daily resistance after completing the M formation at the neckline which we spoke about a number of times, now on the daily timeframe market is still below daily resistance and has this bearish impulse which is now being followed by a correction. we could easily see another rejection tomorrow of the daily resistance which i have marked out on my chart before seeing the continuation to the downside..... the target would be 52k on the fibonacci if we do see another fall. Bare in mind shorting such a bullish market is extremely high risk and we likely wont be looking to enter this position but instead waiting for these falls to be over.
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