This is how I am playing bitcoin over the next 2 weeks.
We are currently in a strong uptrend. Volume has increased, we are above all the key MAs and have broken through some important resistances. Though we are due for a retracement soon (keep in mind we have begun a bear moon phase), the sheer power and momentum of this rally should propel us at least one measured move higher from the current bull flag we are in. Because of this I think we may only get another shallow retracement to the .236 at roughly 51.9k.
In total I am expecting a move to at least 60k before any major retracement. $62,115 is a large CME gap, we may push a little harder to get to and slightly above it, perhaps around 63k. From there we have a good R/R to flip short, wait for a downward impulse and then we can better measure where we are going next from there.
We are currently in a strong uptrend. Volume has increased, we are above all the key MAs and have broken through some important resistances. Though we are due for a retracement soon (keep in mind we have begun a bear moon phase), the sheer power and momentum of this rally should propel us at least one measured move higher from the current bull flag we are in. Because of this I think we may only get another shallow retracement to the .236 at roughly 51.9k.
In total I am expecting a move to at least 60k before any major retracement. $62,115 is a large CME gap, we may push a little harder to get to and slightly above it, perhaps around 63k. From there we have a good R/R to flip short, wait for a downward impulse and then we can better measure where we are going next from there.