4140 is on the table, but after minor pullback
Morning guys,
Two days ago we've said that BTC has hit valuable resistance of major 5/8 Fib level and AB-CD target. Thus, taking in consideration strong upside momentum we keep on the table
upside scenario with 1.618 AB-CD (XOP) target around 4140 which is based on 4H reverse H&S pattern.
Meantime, now we see clear signs of bearish pressure on 1H chart, as market can't continue upside action immediately. Stops above the top have been grabbed by the spike (wash& rinse)
Thus, we expect tactical retracement first to 3/8 Fib support area of 3800$ today.
Two days ago we've said that BTC has hit valuable resistance of major 5/8 Fib level and AB-CD target. Thus, taking in consideration strong upside momentum we keep on the table
upside scenario with 1.618 AB-CD (XOP) target around 4140 which is based on 4H reverse H&S pattern.
Meantime, now we see clear signs of bearish pressure on 1H chart, as market can't continue upside action immediately. Stops above the top have been grabbed by the spike (wash& rinse)
Thus, we expect tactical retracement first to 3/8 Fib support area of 3800$ today.
ForexPeaceArmy BTC analytics :
forexpeacearmy.com/r/author/11/sive-morten-blog
FX, GOLD:
forexpeacearmy.com/community/forums/sive-morten-currencies-and-gold-video-analysis.122/
forexpeacearmy.com/r/author/11/sive-morten-blog
FX, GOLD:
forexpeacearmy.com/community/forums/sive-morten-currencies-and-gold-video-analysis.122/
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