Sive-Morten

9042$ is next target

COINBASE:BTCUSD   Bitcoin
Morning guys,

BTC shows real strength showing just minor reaction on our OP (AB=CD) target on daily chart and ignoring daily Overbought condition.
No intraday AB=CD retracement down has happened yesterday and BTC just continues upside action. But our B&B "Buy" has done perfect ;)

So, our trading plan suggests two moments. First is - reaching of next target at 9042 area. It stands in wide natural weekly resistance of 8500-10K zone.
Since BTC was in downside action for a long time - bearish momentum still exists on the market. This is the reason for our second stage - watching for signs of retracement after XOP will be hit.

Maybe it will be intraday H&S, daily DiNapoli "DRPO "Sell" or something. But somewhere around 9K area moderate ratracement should start, at least by technical reasons.

This is our setup for few sessions...

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