At least something...

11 Apr 2022Morning folks,

In general this is an update to previous idea. So, take a look at them together. Last time we said, that it would be better to wait for 41-42K area, as market has have no bullish context and situation was blur. Right now we still think that time is not ready for long-term investing, as overall environment is not friendly for BTC. Still, tactically, in short-term, price stands at strong support area at least. And it might be used for short-term bullish trading. Thus, on 4H chart this is strong K-support area.

And, here on 1H chart you could see that price simultaneously is coming to XOP (1.618) target of the AB-CD pattern and finalizes this action by 3-Drive Buy. So, If intend to buy BTC - you could use them together with K-area for position taking and stop placement. But don't marry on any position by far and move stops to breakeven ASAP. With rising US yields, falling stocks and rising US Dollar - overall background is not poisitve.