Previous post was spot on with our Targets. We have to remember alot of people were buying #BTC over 12k and have been waiting all year to at least break even. Alot of investors holding for that 12/14k breakthrough.
This retrace meant is healthy for the market, Its had its run an now slowly running out of steam. We can look at the indicators that are very bearish, as we approach the support of the uptrend we have been in for 2 months to this date.
Here we have a highlighted target zone where a long opportunity could be lining up, it could hold at 9.7 as predicted an especially with all the buy orders coming in. But we all know the long pay the shorts and the shorts pay the longs. A $300 Wick could play with structure support holding and its coming in with out support on the trend line. No one wants to be missing out now we have finally seen that 12k break. Alot of institutional investors will be looking at this opportunity along retail.
Hope to see #BTC consolidate in this 9.7k & 11k region besides the wicks that may fall into our target zone. Getting support back inside this trend will show very healthy momentum and continuing the up trend.
This retrace meant is healthy for the market, Its had its run an now slowly running out of steam. We can look at the indicators that are very bearish, as we approach the support of the uptrend we have been in for 2 months to this date.
Here we have a highlighted target zone where a long opportunity could be lining up, it could hold at 9.7 as predicted an especially with all the buy orders coming in. But we all know the long pay the shorts and the shorts pay the longs. A $300 Wick could play with structure support holding and its coming in with out support on the trend line. No one wants to be missing out now we have finally seen that 12k break. Alot of institutional investors will be looking at this opportunity along retail.
Hope to see #BTC consolidate in this 9.7k & 11k region besides the wicks that may fall into our target zone. Getting support back inside this trend will show very healthy momentum and continuing the up trend.
Trade active:
If long orders where places at 9.7 you would be in some nice profit already. Always take those profits or percentages of them
Trade closed: target reached:
10750 lined up nicely, riding on the profits.