In this idea we can see a Fractal playing out on the BTCUSD intraday chart. The price is in a retracement after getting rejected at the $58.000 level.
While the price is in a retracement, indicated by the lower highs, we will wait for a break of the resistance-line for a possible long opportunity on bitcoin.
Our target is located above the previous high. I'm expecting a strong movement backed with some good news in the cryptocurrency sphere.
Please wait for a confirmation first. We need proper buy-volume to kick in, otherwise we will see the price correction continue.
cheers,
Ares
While the price is in a retracement, indicated by the lower highs, we will wait for a break of the resistance-line for a possible long opportunity on bitcoin.
Our target is located above the previous high. I'm expecting a strong movement backed with some good news in the cryptocurrency sphere.
Please wait for a confirmation first. We need proper buy-volume to kick in, otherwise we will see the price correction continue.
cheers,
Ares
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![[CRYPTO] Bitcoin Crushed the All Time High (Update)](https://static.tradingview.com/static/images/svg/idea-image-placeholder.svg)
![[CRYPTO] Bitcoin Crushed the All Time High (Update)](https://s3.tradingview.com/f/fCyl9KAw_big.png)
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![[CRYPTO] $50.000 incoming - Congrats!](https://s3.tradingview.com/c/ci0ydAvD_big.png)
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![[CRYPTO] Bitcoin is in a short-term Correction](https://s3.tradingview.com/a/AUgtr2sE_big.png)
