Bitcoin got a nice pump as we had anticipated from yesterday's analysis,
sitting in profits from our long position.
One level to watch out for is the 42k region as this is a monthly S/R area,
I would expect a small retracement from there. Otherwise, I see no further
hindrance to 45k as this is a major threat, I will update accordingly when
we approach there....
As per our previous analysis, Bitcoin is moving accordingly respecting our levels.
CPI report came out yesterday with the expected figures which were good for the
market. We still staling around the 0.786 Fib level which is a very important level IMO.
Now that there isn't any major market-moving news, I expect the market to slowly
grind upwards.
Price has been...
As per my last analysis, Pirce is currently holding the 0.786 and looking for momentum
for a highly possible bounce. However today we have CPI report news so please
approach the markets with caution.
Am of three views ;
1) Market has already priced in any FUD reports from the FED and this short-term
correction is over.
2) A shake-out scenario where price winks...
This is a possible swing trade idea, the region identified is a golden pocket level
hence a bounce is more probable. T.P zone is first formed resistance level from
most previous Price Action. Incase there is no bounce, this idea is invalidated and
I will be updating ASAP.
