Tactical retracement and then up to 8500$

May 13, 2019

Morning guys,

BTC shows real strength easily passing through major weekly K-resistance area of 6500$. By breaking this area it has passed intro another trading range and now our medium-term target stands at 8500-10K area.

But upward action should continue after tactical retracement. On daily chart market hits OP target and daily Overbought. IT suggests a bit deeper 2-leg retracement, aprox. to 6400$ area. On 1H chart you can see
how it could turn - this is our major short-term scenario for few sessions. First is upside action circa 7300 and forming "222" Sell. Then larger AB=CD down to 6400$.

Our detailed analysis, including weekly/daily and 4H chart you can see in video on our website or youtube channel. Here we provide view of 1 session.