Watching for the pulback

4 thg 12, 2023Morning folks,

let's keep up with our BTC analysis. So, our Thu suggestion was correct once again - BTC has jumped, breaking 4H wedge pattern in opposite direction. Now we suggest you to think on two objects.

First is - is it really ETF topic that pushing BTC higher? So, the gold is raising also because of ETF?

Second is, despite how strong the BTC pace is, we hit monthly Agreement resistance - major AB=CD together with 50% resistance level. Theoretically we have monthly "222" Sell. This is not best combination to consider new long entry.

That's why within few weeks probably we will be watching for market reaction, as it could give us better entry levels.