Hello Traders,
Like I mentioned the last few days that bitcoin should move higher from the 50% Fibonacci Retracement. You can see in the latest analysis that bitcoin is rallying nicely to the upside.
My target remains the same which is at around $0140.4. This is the final target of the inverse head and shoulders pattern from the daily chart. Have a look here:
The invalidation level for this analysis will be $8641.5. If it breaks below that level I am expecting a bigger correction to the downside.
This view will be invalid once it breaks $8641.5 support
Hope this helps
Disclaimer: Trading is about going with the highest probability, nobody is 100% right and we need to protect ourself in case we are wrong. That is why we need to always use a stop-loss when trading. Trade with care. This my current view, and any view present is not a trading recommendation just personal view.
Like I mentioned the last few days that bitcoin should move higher from the 50% Fibonacci Retracement. You can see in the latest analysis that bitcoin is rallying nicely to the upside.
My target remains the same which is at around $0140.4. This is the final target of the inverse head and shoulders pattern from the daily chart. Have a look here:
The invalidation level for this analysis will be $8641.5. If it breaks below that level I am expecting a bigger correction to the downside.
This view will be invalid once it breaks $8641.5 support
Hope this helps
Disclaimer: Trading is about going with the highest probability, nobody is 100% right and we need to protect ourself in case we are wrong. That is why we need to always use a stop-loss when trading. Trade with care. This my current view, and any view present is not a trading recommendation just personal view.
