BTC/USD Long-Term Trend: Bullish
Key Resistance Levels: 43981.38, 44315.63, 44836.32
Key Support Levels: 43427.31, 43329.80, 42965.80
We seem to be playing an abcde-wave count and are currently in the middle of the final e-wave. If this proves accurate, we need to see this wave complete in the $44,700-45,500 area. In addition, we seem to be trading inside of a bullish wedge. If so, a test of the support trend line may provide a trading opportunity to the bull side.
BTC/USD Medium-Term Trend: Bullish
We are trading towards a the 50%-61.8% retracement area (golden box) of the move since the start of the potential e-wave. If this support area holds, we may see a bull-side play to complete the e-wave.
Buy Limit order @ 43381.01
TP 1 @ 44769.67
TP 2 @ 45273.98
Stop Loss @ 42840.42
Trade Safely 🙂