W1 : New high on a W1 closing basis @ 59016.
This should be seen as a positive signal for further upside continuation.
Nevertheless, as already mentioned, it is not likely to see a straight upside move towards
the next significant target level of 65576 ahead of 71985.
It is expected, and it is on a ongoing process, to see some corrective & consolidation move which
should be seen as an healthy price action and we may, even see a sharp downside correction which is
not going to alter the medium term bullish sentiment which is in place from the double bottom
seen @ 28800 and as you can see, from this reversal pattern, BTC is always stay above Tenkan-Sen (conversion line),
currently @ 45290 !
The first Fibonacci retracement (38.2%) of the 28800-61781 rally, is @ 49182...
This should be seen as a positive signal for further upside continuation.
Nevertheless, as already mentioned, it is not likely to see a straight upside move towards
the next significant target level of 65576 ahead of 71985.
It is expected, and it is on a ongoing process, to see some corrective & consolidation move which
should be seen as an healthy price action and we may, even see a sharp downside correction which is
not going to alter the medium term bullish sentiment which is in place from the double bottom
seen @ 28800 and as you can see, from this reversal pattern, BTC is always stay above Tenkan-Sen (conversion line),
currently @ 45290 !
The first Fibonacci retracement (38.2%) of the 28800-61781 rally, is @ 49182...
