BTC looking weak on lower time frames
BTC looks like it wants to test 8900-8930 area as it broke the ascending triangle (better seen on the 1H chart).
If BTC breaks below 8900, the CME gap at 8500 level would be a strong area of interest, and with a likely bounce.
- The stochs on 1H, 4H and 12H looking weak so a slight pullback is likely.
The higher time frames still suggest upside and don't forget that, we may have a pullback on the lower time frames, but on the 2D - Weekly/Monthly there is strong bullish momentum. The trend is still up, so better off going with it.
My mid to long term targets are still around 10000.
Let me know your thoughts on short term or long term periods :)
If BTC breaks below 8900, the CME gap at 8500 level would be a strong area of interest, and with a likely bounce.
- The stochs on 1H, 4H and 12H looking weak so a slight pullback is likely.
The higher time frames still suggest upside and don't forget that, we may have a pullback on the lower time frames, but on the 2D - Weekly/Monthly there is strong bullish momentum. The trend is still up, so better off going with it.
My mid to long term targets are still around 10000.
Let me know your thoughts on short term or long term periods :)
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