In my last update, I gave you the last resistance that I was looking at, which was 48.8k
We ended up getting a 2% pullback after the swing failure pattern, then bounced near the low of the range which was at 46.7k and made our way up.
Right now BTC is looking pretty strong and more upside wouldn't be surprising.
Should we push higher, I would look for the monthly level at around 58 - 59k
This being said, even though this move from our support at 40.7k to 55k has been pretty impulsive, we still have OBV bearish divergences on the daily chart, and we are currently rejecting off the .618 of the pitchfork
Should we lose the weekly at 51.8k and then 50k, I would expect much lower.
Any questions?
Good luck traders
Remember not to break your rules
Habib
We ended up getting a 2% pullback after the swing failure pattern, then bounced near the low of the range which was at 46.7k and made our way up.
Right now BTC is looking pretty strong and more upside wouldn't be surprising.
Should we push higher, I would look for the monthly level at around 58 - 59k
This being said, even though this move from our support at 40.7k to 55k has been pretty impulsive, we still have OBV bearish divergences on the daily chart, and we are currently rejecting off the .618 of the pitchfork
Should we lose the weekly at 51.8k and then 50k, I would expect much lower.
Any questions?
Good luck traders
Remember not to break your rules
Habib
