We had a good run until now and took some profits. BTC price has left the descending (bullish) channel successfully and is now pausing at the fibonacci level 0.66 . I really do hope that you guys have understood the relationship between the 0.33 and the 0.66 that we always preach about, if you didn't just know that you can always contact us to know more or ask in the chat.
Because of the breakout from the last formation we consider $31000 to be a possible next target , flipping that would be extremely bullish for BTC and the whole market. However, before thinking about flipping the local top we will need to successfully OPEN a new 4 h candle above the 0.66.
A local lower target would be the confluence area between the 0.33 , the small pivot block and the SMA 200.
Because of the breakout from the last formation we consider $31000 to be a possible next target , flipping that would be extremely bullish for BTC and the whole market. However, before thinking about flipping the local top we will need to successfully OPEN a new 4 h candle above the 0.66.
A local lower target would be the confluence area between the 0.33 , the small pivot block and the SMA 200.
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