BTC has rejected to top of the range at 5350 and it looks like we are likely going to see at least the bottom of the range being tested.
Stop @ 5320 above pivot high
Target @ 4790 at the bottom of the range
R:R = 5
Will post another update when new information arises.
Two outcomes in my mind:
1) Rejection from the bottom of the range and we see a continuation higher toward 5800
2) Break of range below 4790 would likely point towards the 4100 to 4200 level in the area of the breakout of the previous macro range.
Stop @ 5320 above pivot high
Target @ 4790 at the bottom of the range
R:R = 5
Will post another update when new information arises.
Two outcomes in my mind:
1) Rejection from the bottom of the range and we see a continuation higher toward 5800
2) Break of range below 4790 would likely point towards the 4100 to 4200 level in the area of the breakout of the previous macro range.
