Bitcoin Daily Outlook
*Market has pushed higher and is now retesting the expected entry level ($19,200-300). If we can see the right price action I'll look to jump in from here. We are heading into the weekend, which adds a risk of low volatility and a slow market.*
Daily:
Bitcoin closed bearish today after having a push towards $21,000. The market is now testing support around my long entry of $19,300. This is the break and retest I was looking for and if the price action stays solid, I’ll look to jump in from here. I expect more volatility in these markets over the next week and if we do push higher, we may start looking at targets near $24,000. This trading week is over and as we move into the weekend price usually slows down, this does not mean we will not see some potential volatility Saturday or Sunday; especially with how the current market conditions stand. Overall, my current bias is bullish for the short-term and we will see how the market moves over the weekend. It could set us up for more buys if we get the right movement. Another dip and break of structure would result in a sharp decline once again.
Intraday:
Price traded up towards $21,000 before reversing from this breakout and retesting intraday support near $19,300. This is the break and retest I was hoping for and I am looking to go long in the short-term.
Daily:
Bitcoin closed bearish today after having a push towards $21,000. The market is now testing support around my long entry of $19,300. This is the break and retest I was looking for and if the price action stays solid, I’ll look to jump in from here. I expect more volatility in these markets over the next week and if we do push higher, we may start looking at targets near $24,000. This trading week is over and as we move into the weekend price usually slows down, this does not mean we will not see some potential volatility Saturday or Sunday; especially with how the current market conditions stand. Overall, my current bias is bullish for the short-term and we will see how the market moves over the weekend. It could set us up for more buys if we get the right movement. Another dip and break of structure would result in a sharp decline once again.
Intraday:
Price traded up towards $21,000 before reversing from this breakout and retesting intraday support near $19,300. This is the break and retest I was hoping for and I am looking to go long in the short-term.
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