BTCUSD Bitcoin possible minor breakout to test 9000 line?
BTCUSD Bitcoin possible minor breakout to test 9000 line
and into the target box above the 50% Fibonacci retracement between 9000 and 9800?
Caution! This is a technical analysis, no trade advice!
and into the target box above the 50% Fibonacci retracement between 9000 and 9800?
Caution! This is a technical analysis, no trade advice!
Comment:
slammed right into the target zone on strong US CPI data
Comment:
- BTCUSD posting new monthly high at ~10860 -
BTCUSD slammed right through the targetzone (0.5 to 0.681 Fib levels)
and into the 0.786 Fib retracement of the last downside move.
I see this as a very bullish formation.
However we will have to consolidate and gather further momentum
to break the multi-month downward ceiling trendline, coming in at around ~11500 to ~12000
and eventually close the gap from January 28th high at ~12190.
At the short-term I see solid support between ~9800 (0.618 Fib former resistance) and ~10300 (multi-week support).
Have a great week-end!
BTCUSD slammed right through the targetzone (0.5 to 0.681 Fib levels)
and into the 0.786 Fib retracement of the last downside move.
I see this as a very bullish formation.
However we will have to consolidate and gather further momentum
to break the multi-month downward ceiling trendline, coming in at around ~11500 to ~12000
and eventually close the gap from January 28th high at ~12190.
At the short-term I see solid support between ~9800 (0.618 Fib former resistance) and ~10300 (multi-week support).
Have a great week-end!