Morning folks,
Overall situation on financial markets is far from positive. UK Bond market has collapsed and nobody knows what end will it have. J. Yellen speaks on liquidity shorts on Treasury Bills market. PPI was two times greater than expected yesterday. With such environment, whatever CPI we will get today, hardly it will reverse BTC market up.
Thus, we do not consider long position now. Since market has failed to break consolidation up - most logical way is to attempt to break it down. If it will be successful, BTC could reach 16.5K level. We do not see any bearish continuation patterns inside the range. So you could wait for them, or use Stop "Sell" entry order near the low border of consolidation. If you want to sell of course.
Overall situation on financial markets is far from positive. UK Bond market has collapsed and nobody knows what end will it have. J. Yellen speaks on liquidity shorts on Treasury Bills market. PPI was two times greater than expected yesterday. With such environment, whatever CPI we will get today, hardly it will reverse BTC market up.
Thus, we do not consider long position now. Since market has failed to break consolidation up - most logical way is to attempt to break it down. If it will be successful, BTC could reach 16.5K level. We do not see any bearish continuation patterns inside the range. So you could wait for them, or use Stop "Sell" entry order near the low border of consolidation. If you want to sell of course.
ForexPeaceArmy BTC analytics :
www.forexpeacearmy.com/r/author/11/sive-morten-blog
FX, GOLD:
www.forexpeacearmy.com/community/forums/sive-morten-currencies-and-gold-video-analysis.122/
www.forexpeacearmy.com/r/author/11/sive-morten-blog
FX, GOLD:
www.forexpeacearmy.com/community/forums/sive-morten-currencies-and-gold-video-analysis.122/