BTCUSD: Update - Previous setup results were good, careful now
The chart shows the currently active bullish setup on the weekly chart, as well as the important support levels below.
We should pay attention in the coming days, since I think we will see a retracement soon.
As long as we're producing weekly highs every 5 weeks, we're in a strong uptrend, specially while sitting above the weekly mode, from where a 18 week rally launched in time at mode terms.
Next step would be to look for retracement entries to go long, unless the bullish setup gets invalidated.
The aggressive entry location would do for a good entry, but the stop loss is considerably wide, that's why I label this chart as neutral.
I'll update it if a new setup worth your attention shows up on the daily and weekly timeframes.
Cheers,
Ivan.
We should pay attention in the coming days, since I think we will see a retracement soon.
As long as we're producing weekly highs every 5 weeks, we're in a strong uptrend, specially while sitting above the weekly mode, from where a 18 week rally launched in time at mode terms.
Next step would be to look for retracement entries to go long, unless the bullish setup gets invalidated.
The aggressive entry location would do for a good entry, but the stop loss is considerably wide, that's why I label this chart as neutral.
I'll update it if a new setup worth your attention shows up on the daily and weekly timeframes.
Cheers,
Ivan.
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