Target 1 at 5511 is within todays Pivot point system
Pivot point is at 7226. Resistance levels and support levels are shown in the above chart.
Right now, BTCUSD is testing support level S1 at 6104. The target 5511 is within todays Pivot point system between support levels S1 and S2. There is a good chance that BTCUDSD reaches that target today.
Right now, BTCUSD is testing support level S1 at 6104. The target 5511 is within todays Pivot point system between support levels S1 and S2. There is a good chance that BTCUDSD reaches that target today.
Kommentar:
The battle around support level S1 6104 is still going on. However, there are signals indicating that Bears will win once more. There is a major support level at 5907.
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BTCUSD is moving downwards below the green bold dashed trendline. Target 1 at 5511 is within reach today.
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Another test of support level S1 at $6104 is ahead of BTCUSD. Will it break this time? I expect a hard battle between Bulls and Bears. Once this support level S1 is broken, the way down to $5511 is free.
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BTCUSD crossed the green bold dashed trendline and is now above that trendline. If it crosses the dark red dashed line at 6865, the short-term target is 7855 (green circle). It will be a risky ride. Since December 17, 2018, upmoves do not reach their calculated targets due to the strong downtrend.
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CORRECTION: A sentence in the above comment is wrong. Here is the correction: If it crosses the dark red dashed line at 6865 (green cirlcle), the short-term target is 7855.
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An ascending broadening wedge is developing right now in the one minute chart. This is a bearish signal and it is announcing a trend reveral.