You will note that as we entered this week that weekly Fibonacci is at 50% and has surged to the nest level - 38.2%. So this is the one to watch this week. As to if the price will go up or down, that is in the lap of the gods. But as we are more than half-way through the week, I am not confident the next level at $9732 will be attained. It may be a smart move...
Get ready to put on your moon boots, yes we will have a retrace. But don't get too keen yet as there is still 4 days to go before the week ends. But IF price action does close at 24:00 UTC Sunday above 20 MA, yes you certainly can expect more upward action toward the halving.
Read, steady, GO (Hard) at $7790. Three indicators - 20 week MA, Weekly Ichimoku Kejun & daily Fibonacci you can use to trade this play.
Upwards action is likely to pick up pace nearer to Kejun the price gets.
20 MA time for ALT bull too!
Yes, am expecting more upward momentum, but generally, very lackluster. Might be lucky to get up to $7230 but not worth betting the house on. Yes, day high for this week is about 7230, so if you are doing this trade, certainly should consider getting out of it by 00:00 UTC.
Yes time for small punt, up to $7070. Fibs 1h, 4h & 12h are trending up, additionally price action has not tested fib 1h bottom since nearly 24 hours. Being day swing traders, hopefully trade will be in profit before 00:00 UTC Wednesday.
If day close below $6550 we can expect some more red candles. Not a good start to the week. Note the wick to bottom 1h Fib & reject off Kejun on Sunday. Be prepared. Do what you have to.
An active fib market usually gives some good trades within the UTC week.
But last two days nothing but the above, a weekly .302 which isn't exactly a sterling performer .
Added to which there is no correlation.
So, yes, if you feel you absolutely need to, go ahead but please keep your stop loss very tight.
We are topping this particular run and soon there...
