BTC is in the middle of a first round to prove that it can turn the first resistance 51k of the monthly CPR into support.
The second resistance is located at around 57k so once we confirm 51k as support we should expect a rapid move to those higher levels.
A rejection would most likely set Bitcoin in sideways mode which would allow alts to catch up, starting with ETH.
Going sideways wouldn’t be bad at all. Remember! The more aggressive and quick we move to the upside the bigger the corrections we schedule for the short term. Cool-downs can reduce the risks in the market.
The second resistance is located at around 57k so once we confirm 51k as support we should expect a rapid move to those higher levels.
A rejection would most likely set Bitcoin in sideways mode which would allow alts to catch up, starting with ETH.
Going sideways wouldn’t be bad at all. Remember! The more aggressive and quick we move to the upside the bigger the corrections we schedule for the short term. Cool-downs can reduce the risks in the market.
Join our membership to gain access to the private scripts.
www.thetradingparrot.com
www.thetradingparrot.com
