So as BTC pushes even higher and higher the question is the top in?
Personally I do not think so and still targeting 48-50k. I do believe we are reaching the top of our momentum cycle and should expect high volatility BUT a higher high on the price forming daily divergence on our oscillator.
Confluence for the 48-50k area is pretty rich. Looking at the volume price when price previously traded in this area the value area high was 48-50k. When pulling a fib retrace from 69 high -15500 low the 61.8 retrace level is 49300/ For further confluence if we consider a measured move from last time we broke trend on this push up a perfect ABC measured move is coming out at 48-50k area also.
Current trading plan is to hold long for 48-50k BUT expecting some major volatility.
Trade Well......
Personally I do not think so and still targeting 48-50k. I do believe we are reaching the top of our momentum cycle and should expect high volatility BUT a higher high on the price forming daily divergence on our oscillator.
Confluence for the 48-50k area is pretty rich. Looking at the volume price when price previously traded in this area the value area high was 48-50k. When pulling a fib retrace from 69 high -15500 low the 61.8 retrace level is 49300/ For further confluence if we consider a measured move from last time we broke trend on this push up a perfect ABC measured move is coming out at 48-50k area also.
Current trading plan is to hold long for 48-50k BUT expecting some major volatility.
Trade Well......
