Watching for the same 60.5K area

23 Sep 2024

Morning folks,

So, the plan that we've prepared last week mostly stands the same. In fact, BTC has decided first to complete upside nearest AB=CD target, and starts retracement second. So, although we were waiting for pullback on previous week, it is starting only now.

Here, on 1H chart you could see potential H&S pattern. We do not call you to trade it, because our primary context is bullish (although you can if you want). Here we're mostly interested with its fruits - downside pullback somewhere to ~60K support area. Which we think might be interesting for long entry later in the week.

Cheers.

26 Sep 2024

Dagangan aktif

Morning everybody,

So, update should be enough for current situation. We've got the H&S shape as we've suggested, although it is not perfect. Downside action from the top of right arm ~ 64K has happened and we could move stops to breakeven.

But, for new shorts I would wait a bit, mostly to get confirmation of bearish weekly grabber. Because on 4H chart price consolidation looks like flag and it makes me to wait a bit and see what will happen.