BITCOIN TARGET HIT - WHAT'S NEXT?
Updated
What a week we had in crypto market!!!
Our target of $6650 was met precisely! I mentioned that we should expect $500-$1000 candle, and we had 500$ move couple days after.. :)
I expect consolidation of some sort to be seen before bullish rally.. Orange box is consolidation zone 0 if we close above on daily - longs can be opened with best R/R ration depending on your trading management.
Next target is $7750-$7850 region with possible spikes to ~$8000.. Only closing daily above $8500 would switch my bias and it can turn out to be strong bull rally - until then, I'm sticking to the green regions as my TPS
Keep in mind that we have important zones to cover lower than our recent low - that's why I think it will be just a "dead-cat-bounce" before continuation lower.. A lot of choppy price action to be expected too! *Don't forget to take profits if you see market turning around at crucial zones.
This is not a financial advise. Have a good one!
Our target of $6650 was met precisely! I mentioned that we should expect $500-$1000 candle, and we had 500$ move couple days after.. :)
I expect consolidation of some sort to be seen before bullish rally.. Orange box is consolidation zone 0 if we close above on daily - longs can be opened with best R/R ration depending on your trading management.
Next target is $7750-$7850 region with possible spikes to ~$8000.. Only closing daily above $8500 would switch my bias and it can turn out to be strong bull rally - until then, I'm sticking to the green regions as my TPS
Keep in mind that we have important zones to cover lower than our recent low - that's why I think it will be just a "dead-cat-bounce" before continuation lower.. A lot of choppy price action to be expected too! *Don't forget to take profits if you see market turning around at crucial zones.
This is not a financial advise. Have a good one!
Note
Didn't make an update for a while, sorry for that guys!7800-7900$ region was hit. I expect more downside momentum in medium term.. Take care
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