Bitcoin - TP Targets
• In a previous Bitcoin idea, I outlined the area between 29,200 – 29,500 as a possible reversal area.
• Yesterday’s price action was corrective, with multiple sell orders every time Bitcoin reached the 50H EMA.
• Now it looks as if Bitcoin overcame this hurdle but PA is weak IMO.
• Assuming that Bitcoin gets above the mid-range at 30,500, I outlined additional TP points.
• I am not confident about a bullish breakout but everything is possible so I will leave some of the trade to run, just in case.
TP Targets:
• 30,500: Mid-Range
• 31,150: 4H Supply Zone
• 31,800: Wick fill
• Depending on PA, I may add another TP at 30,750
• Yesterday’s price action was corrective, with multiple sell orders every time Bitcoin reached the 50H EMA.
• Now it looks as if Bitcoin overcame this hurdle but PA is weak IMO.
• Assuming that Bitcoin gets above the mid-range at 30,500, I outlined additional TP points.
• I am not confident about a bullish breakout but everything is possible so I will leave some of the trade to run, just in case.
TP Targets:
• 30,500: Mid-Range
• 31,150: 4H Supply Zone
• 31,800: Wick fill
• Depending on PA, I may add another TP at 30,750
