#BTCUSD - Chart Update / TECH-NOTE | #BTC #USD #Bitcoin #Gold
TECH-NOTE:
Indeed, so far the "Expected Reversal Zone" did the "Expected" part of its name. An intermediate TG-int = 960.4 reflects a level of probable resistance (i.e.: expect some significant consolidation occurring at that level).
As mentioned before, the decline that has occurred has more to do with Stop-Loss hunting than a directional reversal. Based on our methodology, the directional bias remains intact (i.e.: Bullish), and no preliminary reversal signal has been generated at this point.
OVERALL:
Bullish trend remains intact; structural levels (i.e.: recent highs are likely hurdles for any subsequent rally, with some of the most notable overhead resistance defined in the chart.
Cheers,
David Alcindor | 4xQuad.com
Indeed, so far the "Expected Reversal Zone" did the "Expected" part of its name. An intermediate TG-int = 960.4 reflects a level of probable resistance (i.e.: expect some significant consolidation occurring at that level).
As mentioned before, the decline that has occurred has more to do with Stop-Loss hunting than a directional reversal. Based on our methodology, the directional bias remains intact (i.e.: Bullish), and no preliminary reversal signal has been generated at this point.
OVERALL:
Bullish trend remains intact; structural levels (i.e.: recent highs are likely hurdles for any subsequent rally, with some of the most notable overhead resistance defined in the chart.
Cheers,
David Alcindor | 4xQuad.com