Congrats to Bulls, BTC exceeding expectations and performing rather well in May.
What are we in for.
Well we potentially saw a buy back zone of 9760 and a retest of our major retracement level of 61.8 from FEB which appears to have resisted a potential H&S formation.
Its not surprising that we saw visit back this region before continuing onwards to our target of ~11500. Note Stochastics on 4h remaining neutral.
From 11500 the divergence on the daily scale needs to be settled which may occur with a rude pullback to the 9.5 followed by a potential visit to 8's and overperformance to the downside with a high 7800.
Either way the worst may well be behind us.
What's your plan if BTC doesn't fit your plan A?
What are we in for.
Well we potentially saw a buy back zone of 9760 and a retest of our major retracement level of 61.8 from FEB which appears to have resisted a potential H&S formation.
Its not surprising that we saw visit back this region before continuing onwards to our target of ~11500. Note Stochastics on 4h remaining neutral.
From 11500 the divergence on the daily scale needs to be settled which may occur with a rude pullback to the 9.5 followed by a potential visit to 8's and overperformance to the downside with a high 7800.
Either way the worst may well be behind us.
What's your plan if BTC doesn't fit your plan A?
Komentarz:
9k Broken
8.8k Broken (MT Gox Rumors)
8.2
7.8
Last bullish levels.
8.8k Broken (MT Gox Rumors)
8.2
7.8
Last bullish levels.
Komentarz:
8.2 Busted ( Korean Exchange Raid/Event)
-8k psychological (scaling out of shorts)
-7.8
<7.5 = Bear mode.
-8k psychological (scaling out of shorts)
-7.8
<7.5 = Bear mode.
Komentarz:
7.8 Reached.
Key consolidation levels
Bullish
9k
8.8k
8.2K
7.8k
Bear MODE
<7.5k