Bitcoin Price forecast.
As per our previous analysis, Bitcoin is moving accordingly respecting our levels.
CPI report came out yesterday with the expected figures which were good for the
market. We still staling around the 0.786 Fib level which is a very important level IMO.
Now that there isn't any major market-moving news, I expect the market to slowly
grind upwards.
Price has been stuck in a bear flag and we are at the bottom of that structure.
My thesis is that we visit the 45k region first before any major structural change.
Am currently in a long position with 45k as Tp. My risk tolerance in this Trade is
a wide one as am taking into consideration a possible flash crash to the 37k regions,
however, this is the worst-case scenario.
CPI report came out yesterday with the expected figures which were good for the
market. We still staling around the 0.786 Fib level which is a very important level IMO.
Now that there isn't any major market-moving news, I expect the market to slowly
grind upwards.
Price has been stuck in a bear flag and we are at the bottom of that structure.
My thesis is that we visit the 45k region first before any major structural change.
Am currently in a long position with 45k as Tp. My risk tolerance in this Trade is
a wide one as am taking into consideration a possible flash crash to the 37k regions,
however, this is the worst-case scenario.
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