Yesterday, large BTC cake (big pie) and ETH纷纷 arrived at the take-profit levels.
BTC reached the 85,000 target.
ETH reached the 2,800 target.
At present, during the early session, the BTC price is around 86,000.
This level is near the weekly MA62 and weekly MA120.
Those two weekly lines are currently basically overlapping.
From BTC’s daily chart,
BTC has just broken out of a consolidation structure.
The Fibonacci retracement chart shown below is the key support.
BTC has been moving in a fairly standard way:
starting from the lower end, it surged up to 81,500,
then after going through a consolidation structure, it once again chose to move upward.
So this new upward leg should be roughly around 1:1 compared to the original leg.
Therefore, starting from 81,500, there is a high possibility that price will move toward the 96,000 area.
96,000 also happens to be the middle-section drop-start location.
As for ETH, it is moving in sync with BTC.
For now, short-term trading is still mainly long.
After price breaks away from the ranging zone,
the market will accelerate noticeably.
Short positions should not be considered at the moment.
The long side’s spring is here
$BTC
BTC reached the 85,000 target.
ETH reached the 2,800 target.
At present, during the early session, the BTC price is around 86,000.
This level is near the weekly MA62 and weekly MA120.
Those two weekly lines are currently basically overlapping.
From BTC’s daily chart,
BTC has just broken out of a consolidation structure.
The Fibonacci retracement chart shown below is the key support.
BTC has been moving in a fairly standard way:
starting from the lower end, it surged up to 81,500,
then after going through a consolidation structure, it once again chose to move upward.
So this new upward leg should be roughly around 1:1 compared to the original leg.
Therefore, starting from 81,500, there is a high possibility that price will move toward the 96,000 area.
96,000 also happens to be the middle-section drop-start location.
As for ETH, it is moving in sync with BTC.
For now, short-term trading is still mainly long.
After price breaks away from the ranging zone,
the market will accelerate noticeably.
Short positions should not be considered at the moment.
The long side’s spring is here
$BTC
