Morning guys,
So, our 11K-12K ping-pong trading plan has done perfect. The H&S pattern that we've discussed on Thu is almost done. Due to the solid drop on Friday, BTC stands oversold on daily chart and at the same K-support area.
As a result, it is difficult to count on immediate downside continuation.
Nearest target is H&S AB=CD at 9700. BTC could try to reach it despite OS condition on daily, as it stands relatively near. Then we expect small pullback, as respect of target and to leave uncomfortable daily Oversold area.
Our major short-term target is large AB=CD @ 9K. (8970 to say precisely).
Now it is not good area to take new short position. Wait for pullback.
So, our 11K-12K ping-pong trading plan has done perfect. The H&S pattern that we've discussed on Thu is almost done. Due to the solid drop on Friday, BTC stands oversold on daily chart and at the same K-support area.
As a result, it is difficult to count on immediate downside continuation.
Nearest target is H&S AB=CD at 9700. BTC could try to reach it despite OS condition on daily, as it stands relatively near. Then we expect small pullback, as respect of target and to leave uncomfortable daily Oversold area.
Our major short-term target is large AB=CD @ 9K. (8970 to say precisely).
Now it is not good area to take new short position. Wait for pullback.
ForexPeaceArmy BTC analytics :
www.forexpeacearmy.com/r/author/11/sive-morten-blog
FX, GOLD:
www.forexpeacearmy.com/community/forums/sive-morten-currencies-and-gold-video-analysis.122/
www.forexpeacearmy.com/r/author/11/sive-morten-blog
FX, GOLD:
www.forexpeacearmy.com/community/forums/sive-morten-currencies-and-gold-video-analysis.122/