InvestingScope

Moving towards the final 0.618 Fib rejection point. Still short.

Short
BITFINEX:BTCUSD   Bitcoin
BTC has resumed the uptrend following the 6,802.40 low making 4H an aggressive Channel Up (RSI = 61.244, MACD = 104.900) against our short term expectations. However we are still expecting on the medium term the 1D Channel Up (Highs/Lows = 277.2224, B/BP = 627.3060) to be limited just above the 0.618 Fibonacci retracement level (7,500 - 7,800), which on 1W has formed the previous two Lower Highs and is where we will add the last sell. The targets are intact: 6,541.80, TP2 = 6,082.70, TP3 = 5,609.10 (the latter with SL on BE).

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