Broken out of the formation to the upside.
The continuation higher in prices through resistance has been impressive with strong momentum and shows no signs of slowing.
We have a 50% Fibonacci pullback level of 8918.47 from 10.540.49 to 7296.44.
We look for a re-test of the downward trending support.
Preferred trade is to buy on dips.
Expect trading to remain mixed and volatile.
Target 1: 10000
Target 2: 10900
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It really depends how you are positioned. Can you hold out if the price were to drop from current levels towards the desired entry level? Are you accumulating BTC or just looking to trade it in the short term?
Overall the outlook has improved following the surge last week. But the dominant trend remains bearish.