BitcoinShort
BTCUSD - Outlook Update 2021.05.24
Bitcoin opened today @35201.60 with a gap up from the Saturday close @33035.15 and has traded up into a 32.8 ER / 32.8 App confluence area.
Bullish Scenario
Should price build momentum and trade above the 32.8 ER / 32.8 App confluence area, the next target area would be a break and retest of the Daily Bearish Trendline and then a continuation to target liquidity above old daily highs at the 61.8 APP / 61.8 IR confluence @33804.00 / 38108. 05 .
Bearish Scenario
Should price not be able to break above the 32.8 ER / 32.8 App confluence area @35856. 05 / 32425.90 it is anticipate price will trade lower on lack of upside momentum towards our Elliott Wave: d target level 161.8 App / 61.8 ER @22238.70 / 20948.50.
** This should not be considered trading advice. Feel free to compare my analysis to your own research.
Bullish Scenario
Should price build momentum and trade above the 32.8 ER / 32.8 App confluence area, the next target area would be a break and retest of the Daily Bearish Trendline and then a continuation to target liquidity above old daily highs at the 61.8 APP / 61.8 IR confluence @33804.00 / 38108. 05 .
Bearish Scenario
Should price not be able to break above the 32.8 ER / 32.8 App confluence area @35856. 05 / 32425.90 it is anticipate price will trade lower on lack of upside momentum towards our Elliott Wave: d target level 161.8 App / 61.8 ER @22238.70 / 20948.50.
** This should not be considered trading advice. Feel free to compare my analysis to your own research.
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