If you are part of the discord, I posted in trade-alerts: Yesterday at 7:36 AM Bitcoin Target $12,800
We have tagged just over that target and it is a good time to take profit on longs.
We may get one more leg up to 13.3k, But we will likely begin to retrace the bullish move that started on the 17th when we bounced off the low @ ~9.2k
We have Support @ 11.7k, 11.2k, 10.8k and 10K
If we move above 13.3k then this idea will be abandoned and we will set new targets as we head to towards the upper end of this Bearish channel that started at 20k. Make this chart yours to see it. The top of the channel should be somewhere around ~15k depending on timing.
Support 1 hit although it was closer to 11.6k Last Night We are now resting on support 2 @ 11.2k
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We are sitting on the ~11.2k support still and it is a strong level if you look back at how busy the level has been.
I am favoring a move back up to ~11.8k next - possibly a move down below 11k after, but not confident enough to make any trades right now. I will simply watch this market develop.
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^correction I meant move up to 12.3k as the arrow on the chart show.
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11.8k ended up being right and we are resting on .236 Which is a 70% retracement of the move from 9.2k to 13k