I thought I'd do a little update.
Drew in the horizontal supports at 58250 and then stronger at 54000 as well as first horizontal resistance at 59500.
Should BTC take that out, next resistance would be the horizontal area between 61180 and 61780, depending if you take closing prices or the upper wicks of the previous high. I'd say it'll be the area in between. Strong resistance is also coming in here from the earlier support of the lows starting in the end of February that has now turned to resistance, seen in the diagonal red line. So this little cluster resistance is my first target zone, TP1 for 1/3 og my position. TP2 for the remaining 2/3 is 72000. This is derived from Elliot wave theori.
Stopp loss below 54000.
Drew in the horizontal supports at 58250 and then stronger at 54000 as well as first horizontal resistance at 59500.
Should BTC take that out, next resistance would be the horizontal area between 61180 and 61780, depending if you take closing prices or the upper wicks of the previous high. I'd say it'll be the area in between. Strong resistance is also coming in here from the earlier support of the lows starting in the end of February that has now turned to resistance, seen in the diagonal red line. So this little cluster resistance is my first target zone, TP1 for 1/3 og my position. TP2 for the remaining 2/3 is 72000. This is derived from Elliot wave theori.
Stopp loss below 54000.
