BTCUSD Blast past 12000 and back!

6 Agu 2019

As predicted on our past post "BTCUSD Either way we going up...What's the Top Though?!" anything above 12000 we deemed it as a bonus and just like that we got rejected heinously at 12300 and fell in a massive landslide of almost 7%. Regardless the bulls are still in control, for now, and the sloping resistance line is merely tentative, for now.

We now holding steady as of writing at 11700 and climbing, whats next?

• A re-test of 12000-12300 range
  
• Failure to hold above this range will see us fall further down towards old support ranges.
  

Targets:

• Support - 11600, 11200, 10900 worst case 10200
  
• Resistance - 12000,12300, 13200 and best case 13800
  

My take:

• I am currently long until a clear sell signal AKA Death Cross Signal currently miles away until further drops i would hate to be squeezed out of a parabolic move.
  
• The RSI still looks healthy for the bulls, nonetheless if one is in profit this would be a great range to take some profit off the table.
  

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As always Trade Safely, Happy Trading!