$BTCUSD (#bitcoin) Chart Update:
Friends,
Of late, we produced a high-probability target defined at 1020, attributing this as a major potential resistance. However, we are upgrading our optimism by defining a TG-High target at 1137.02.
That target was already posted sometimes last week, but at the time, we decided to concentrate of the nature of the decline and looking at potential upside reaction.
One small hurdle right now is the 848.71 level, which is a small internal structure. However, this tiny bone will likely flesh out a loftier forecast, setting our sight on that 1137.02.
First things first: Move beying 848.71, THEN, overcome 1020.00, then and only then, contemplate a potential reversal of significant Fib repercussion from that 1137.02 level.
OVERALL:
Outlook is NEUTRAL. If next 4-hour candle closes higher, then our outlook will convert to "LONG" and our BULLISH market reversal confirmation will be complete.
Cheers,
David Alcindor | 4xQuad.com
Friends,
Of late, we produced a high-probability target defined at 1020, attributing this as a major potential resistance. However, we are upgrading our optimism by defining a TG-High target at 1137.02.
That target was already posted sometimes last week, but at the time, we decided to concentrate of the nature of the decline and looking at potential upside reaction.
One small hurdle right now is the 848.71 level, which is a small internal structure. However, this tiny bone will likely flesh out a loftier forecast, setting our sight on that 1137.02.
First things first: Move beying 848.71, THEN, overcome 1020.00, then and only then, contemplate a potential reversal of significant Fib repercussion from that 1137.02 level.
OVERALL:
Outlook is NEUTRAL. If next 4-hour candle closes higher, then our outlook will convert to "LONG" and our BULLISH market reversal confirmation will be complete.
Cheers,
David Alcindor | 4xQuad.com