Ladies n Gents,
This is my current take on the beast which is Bitcoin.
We have dropped from our long term consolidation pattern, and have yet to make the measured move downwards to 7.2-6.9 region.
Which does line up with a lot of buying power if you check the Volume profile.
What we are experiencing now is only a bounce on the way down. Do not be fooled, this can come down even further than expected.
One thing is for sure, do not enter a trade too early, wait for confirmation on the trend, even if it means you miss out on potential gains, it will only soften the blow if you make a bad trade.
TP's for downside: 7.5-7.2-6.9 short to mid-term.
TP's for upside: 8.25-8.5-8.75-9 short to midterm
This is my current take on the beast which is Bitcoin.
We have dropped from our long term consolidation pattern, and have yet to make the measured move downwards to 7.2-6.9 region.
Which does line up with a lot of buying power if you check the Volume profile.
What we are experiencing now is only a bounce on the way down. Do not be fooled, this can come down even further than expected.
One thing is for sure, do not enter a trade too early, wait for confirmation on the trend, even if it means you miss out on potential gains, it will only soften the blow if you make a bad trade.
TP's for downside: 7.5-7.2-6.9 short to mid-term.
TP's for upside: 8.25-8.5-8.75-9 short to midterm
We came back to test previous resistance become support.
Will we continue this upward trend and finish out all our remaining tp's?
Remaining tp for up : 8.5 - 8.75 - 9.1 - 9.4
Tp's for downside: 8.25 - 8k - 7.5 - 7.2