BTCUSDT did hit my lower target (red circle) and now has traded sideways somewhat predictably to pull the 200 MA into a horizontal position and begin the turnaround of this important moving average. It did attempt to move up off the 50 MA but this failed and it has now retreated back to the 200 MA to seek the reassuring support that it needs to make the next leg higher.
The vector and velocity should increase now and my feeling is that my upper target of 14000 range is very much still in play. After that I would expect some further consolidation before the move back up to the 20 K area. Happy trading...
The vector and velocity should increase now and my feeling is that my upper target of 14000 range is very much still in play. After that I would expect some further consolidation before the move back up to the 20 K area. Happy trading...