xrowfm
Panjang

Short-term dip in BTCUSD as entry for long term bullish play

COINBASE:BTCUSD   Bitcoin / Dolar
BTCUSD             broke below SMA50 on daily bars, I expect it to gain downward momentum and cover a majority of the distance that leads to EMA200. Some minor upward momentum is possible to hit the upper triangle line resistance, but I would expect a return to triangle support and an eventual break down that will offer a fresh opportunity to buy. Short-term target entry points located around 10,640 no later than Feb 1st and11,525 no later than Feb 8th. An entry in that retracement zone would offer a decent opportunity for a long term position (weeks/months) leading to fresh new highs above 20K.
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