Goodmorning here is a quick recap of the latest run of bitcoin. i think we are still in a w3 impulse. we make several 1.618 extensions and no bearish divergence to be seen yet so my feeling is that we have one more leg up at least.
Bitcoin just retraced to 65% of the last pivot. this level needs to hold in my opinion. is we break down to 768 I'll reevaluate and possible add to my short position on the ALGO sell fibs. I'll present these if we get there but for now
my expectation is that we have one more leg up.
An other thing that is noteworthy I really liked the 5min RSI of the last leg up. I havent seen this kind of reaction on the 5min in the last 6months
Bitcoin just retraced to 65% of the last pivot. this level needs to hold in my opinion. is we break down to 768 I'll reevaluate and possible add to my short position on the ALGO sell fibs. I'll present these if we get there but for now
my expectation is that we have one more leg up.
An other thing that is noteworthy I really liked the 5min RSI of the last leg up. I havent seen this kind of reaction on the 5min in the last 6months
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Also the weekend is around the corner.. low volume so it is pretty easy to push price up by pumpersComment
12hr cloud wise we sure could have one more up Comment
next leg up is at the level of the 12hr kijun its a confluence so makes me think prince wants to go there. we just need to close above the tenkanComment
The USDT thether chart looks more promising then the USD pairs. But I think we should not discount price action of tether since the majority of the market is traded with tether. Comment
I did not check with ichimoku but we also bounced of the cloud support. this is pretty good support for now. 768 fib would be inside the cloud Comment
TREND continuation to be expected HIDDEN BULLISH DIV on the 1hrComment
On track lets goComment
I'll add some longs if we get to the kijun and 618Comment
As discussed yesterday when price will reach 768 I'll consider to short this. I wait how we bounce of this and will reevaluate the situation. probably we won't bounce higher then 6345 and then down Comment
setup updateComment
Trade closed: target reached
boys and girls target met!Disclaimer
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