BTC - D1 - NO CHANGE IN MY EXPECTED STRATEGIC BEARISH SCENARIO
D1 : 30'000 filled yesterday with an intraday low @ 29150
Today's price action is showing a new recovery attempt with an upside potential pretty limited.
Indeed, TS currently @ 32620 ahead of the 61.% Fib ret @32652 of the last downside move will be the first important resistance area to break.
Current price action should still be seen as a corrective move only in a broad bear trend and not as a trend reversal yet !
As already mentioned, in order to neutralise the existing downside risk, BTC should move above KS an MBB and hold above both (35'000 +)
Once the current upside move will be over, it is likely to see a retest of the 30'000 area, then towards the first strategic target of 27'426 (38.2 % FR)
Triangle target @ 23'590 !!
Have a great trading day :-)
Today's price action is showing a new recovery attempt with an upside potential pretty limited.
Indeed, TS currently @ 32620 ahead of the 61.% Fib ret @32652 of the last downside move will be the first important resistance area to break.
Current price action should still be seen as a corrective move only in a broad bear trend and not as a trend reversal yet !
As already mentioned, in order to neutralise the existing downside risk, BTC should move above KS an MBB and hold above both (35'000 +)
Once the current upside move will be over, it is likely to see a retest of the 30'000 area, then towards the first strategic target of 27'426 (38.2 % FR)
Triangle target @ 23'590 !!
Have a great trading day :-)