BTC/USD long entry
Updated
Since hitting the low at 6200USD, bitcoin has been moving towards 6500USD level once again. In the long term I think this is just a slight upwards move before we correct below 6000 level again.
At the moment I am targeting a long position from 61,8% fib. retracement level to 6500 USD as fib. 100% level. Since BTC rejected fib. 78,6% level I have been waiting on the side to find a better entry point, or, at least see some confirmation to rejection of 61,8% level.
I hope this is helpful to someone and I am open to suggestions and feedback.
Thanks.
At the moment I am targeting a long position from 61,8% fib. retracement level to 6500 USD as fib. 100% level. Since BTC rejected fib. 78,6% level I have been waiting on the side to find a better entry point, or, at least see some confirmation to rejection of 61,8% level.
I hope this is helpful to someone and I am open to suggestions and feedback.
Thanks.
Note
And it is a perfect rejection of 61,8 fib. support level and once again we are pushing higher towards our initial target on 6500USD and most likely even further to 6600USD. I am currently in Long trade since hitting the support region. Took a nice risk but Without risk there wont be rewards.
Lets see how it plays out in the end.
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