Bitcoin price dropped nearly 20% today. And yet, the uptrend remains intact with 15743 and 16147 being first targets. The correction took the form of a Flat (3-3-5). When the price broke beyond the pitchfork, it triggered my buy orders.
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Bitcoin price dropped nearly 20% today. And yet, the uptrend remains intact with 15743 and 16147 being first targets.
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Drop below 14 100 is very unwelcome under this scenario, so I define this as a reversal level:
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Stop-loss order should now be moved to break-even (14 900).
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Yesterday we hit the 15 743 target but didn't get to the second target of 16 147, so the rest of the position was stopped out at break-even. Currently looking for new oppurtunities. Drop below 14 000 could be detrimental for BTC and trigger more selling. Dynamic resistance is @15 600.
