26.5 is vital support for the bulls
Morning folks,
Once our 31K OP target has been hit - BTC starts to show tactical signs of weakness. It is vital for BTC to stay above 25.5-26.5K support area to keep major upside trend with 36-38K destination point. Downside breakout of 26K support level could significantly increase chances on downside acceleration.
In very short-term, we consider first step of downside retracement to 28.3K support area, in a way of puny H&S on 1H chart. Once it will be completed - our focus will turn to next one, large 4H H&S pattern and 26K support area, which also should become a neckline for big pattern.
Once our 31K OP target has been hit - BTC starts to show tactical signs of weakness. It is vital for BTC to stay above 25.5-26.5K support area to keep major upside trend with 36-38K destination point. Downside breakout of 26K support level could significantly increase chances on downside acceleration.
In very short-term, we consider first step of downside retracement to 28.3K support area, in a way of puny H&S on 1H chart. Once it will be completed - our focus will turn to next one, large 4H H&S pattern and 26K support area, which also should become a neckline for big pattern.
ForexPeaceArmy BTC analytics :
forexpeacearmy.com/r/author/11/sive-morten-blog
FX, GOLD:
forexpeacearmy.com/community/forums/sive-morten-currencies-and-gold-video-analysis.122/
forexpeacearmy.com/r/author/11/sive-morten-blog
FX, GOLD:
forexpeacearmy.com/community/forums/sive-morten-currencies-and-gold-video-analysis.122/
Penafian
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