So we got the pullback that I was writing about in my last Weekly Review. But now, what’s the next move? Are we going lower? Are we going to $50k? Bitcoin may definitely continue to move towards the $50-60k level as I’ve approached in HTF Tuesdays in the upcoming months, but doesn’t it make sense to go first below $40k?
Well for me it doesn’t. Briefly, this is the time we either stay here (or slightly lower) for a while, or we just reject and continue the uptrend from $38k. I would want to wait until the start of next week to define correctly the direction in any case.
We could see more sideways movement as long as we stay above $41k. However, the reaction I wanted to focus more on is the bullish one: we will set a higher high (marked in the chart as CHoCH – Change of Character) and reject from the 1 hour fair value gap, which would start the continuation of the uptrend.
Finally, in order to have everything covered, if we do trade below $40k, I’d try to stay safe from any overleveraged position. Anyway, have a good trading week!
Well for me it doesn’t. Briefly, this is the time we either stay here (or slightly lower) for a while, or we just reject and continue the uptrend from $38k. I would want to wait until the start of next week to define correctly the direction in any case.
We could see more sideways movement as long as we stay above $41k. However, the reaction I wanted to focus more on is the bullish one: we will set a higher high (marked in the chart as CHoCH – Change of Character) and reject from the 1 hour fair value gap, which would start the continuation of the uptrend.
Finally, in order to have everything covered, if we do trade below $40k, I’d try to stay safe from any overleveraged position. Anyway, have a good trading week!
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Informacje i publikacje przygotowane przez TradingView lub jego użytkowników, prezentowane na tej stronie, nie stanowią rekomendacji ani porad handlowych, inwestycyjnych i finansowych i nie powinny być w ten sposób traktowane ani wykorzystywane. Więcej informacji na ten temat znajdziesz w naszym Regulaminie.