Bitcoin made the ABC wave I predicted. Hit the target on C. We might see some accumulation on this level before it makes another move.
For now it's making a small triangle which could indicate a bull flag. If so, we can see another leg up to the 0.5 fib level @9391 level, depending on how you calculate your trend. The 0.618 is currently our resistance, which is a little above VWAP.
Keep your eyes on the MA of 50 and 200, if they cross they could indicate a strong bullish trend. On my chart the green line is the 200 and the red line is 50.
And keep in mind that this could be a fake out. So keep your stop losses tight. Use low R:R.
Good luck trading!
*Not financial advice.
For now it's making a small triangle which could indicate a bull flag. If so, we can see another leg up to the 0.5 fib level @9391 level, depending on how you calculate your trend. The 0.618 is currently our resistance, which is a little above VWAP.
Keep your eyes on the MA of 50 and 200, if they cross they could indicate a strong bullish trend. On my chart the green line is the 200 and the red line is 50.
And keep in mind that this could be a fake out. So keep your stop losses tight. Use low R:R.
Good luck trading!
*Not financial advice.
