I have not charted the the time frame on this chart, it is just for price level purposes...
As we predicted, BTCUSD bounced nicely from the 30k area. Now we can see that we have found some resistance at the 42k level. We think that the most likely scenario is that we find support around the 38k level and then continue back to the 0.618 fib level @ 51.4 k.
If we can then turn the .38s into support we seen no reason why our bullish trend should not continue back to the ATH and beyond.
We are really just looking for the 42.5k level to become solid support and we would most likely open a long position at that point.
(This is not financial advice. I am not a financial advisor)
PLEASE LEAVE QUESTIONS / COMMENTS BELOW AND WE WILL ANSWER THEM ALL...
As we predicted, BTCUSD bounced nicely from the 30k area. Now we can see that we have found some resistance at the 42k level. We think that the most likely scenario is that we find support around the 38k level and then continue back to the 0.618 fib level @ 51.4 k.
If we can then turn the .38s into support we seen no reason why our bullish trend should not continue back to the ATH and beyond.
We are really just looking for the 42.5k level to become solid support and we would most likely open a long position at that point.
(This is not financial advice. I am not a financial advisor)
PLEASE LEAVE QUESTIONS / COMMENTS BELOW AND WE WILL ANSWER THEM ALL...