Here is an updated chart of BTCUSD that I have been posting for months. My play has been to wait for a break of the 29K and buy in the green zones below or look for price to get above resistance at 42k. So far the 29k level has proved unbreakable and momentum seems to be building again for a run at 42K. We now have a 9/21ema cross on the daily which for me is a bullish sign. Will look for price to hold the ema cloud and move through 42k before I get too excited. BTC needs some sort of catalyst to really get going again. Let see what happens.
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Successful retest of zone identified. This is bullish with next target zone 50k.
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Held up at the 200 sma but is now breaking through= bullish
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Keep an eye on the 51136 level for a pull back. Long term still expect to see ATH again this year. Potential spot to add if you have missed the run from 30k so far. Above 50K this could really get going.
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BTCUSD is very technical so did exactly as expected and pulled back from the 618 fib and the 50k zone giving a buying opportunity before a potential move higher. We are now back testing the 618 to the upside. If it breaks through the 886 fib and ATH are within reach. I'll post a longer term chart soon.
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Above 52K.. looking for 57K now.
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Nope... rejection just past the 52k and the 618. Dropped 5k in quick fashion. Must be sell the new event after El Salvador legalized. Another buying opportunity if we get a sharp drop to 42K.
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Wow flash crash to 43K. Hope some people had their buy orders. I will have to re chart this. Should be some interesting price action going forward.
