In the past days I had no time to update and while I am writing, btc is rising. I am already long cause of my cyclical analysis; I was sure we already had the bottom and I think the price won't fall under 9400 for the next week (9 september).
If I had no position, I probably would have waited an h4 closure above the black dashed line; in past this trendline worked first as resistance, then as support and now as resistance again, so it is an important level. I think that an h4 closure above this line (10000), will bring the price up.
My first target is 10400 (red horizontal line); my second target is the red rectangle and the red line: 10800-11100 area. In this area we have a lot of stuff (fibonacci levels, old support and resistance area).
This is the time I think is better to no short. Each dip is an opportunity to buy. 9600 would be a perfect entry. If btc falls under 9600, probably I am totally wrong, but if btc holds this level, my targets are 10400 first, 10800-11100 then!
If I had no position, I probably would have waited an h4 closure above the black dashed line; in past this trendline worked first as resistance, then as support and now as resistance again, so it is an important level. I think that an h4 closure above this line (10000), will bring the price up.
My first target is 10400 (red horizontal line); my second target is the red rectangle and the red line: 10800-11100 area. In this area we have a lot of stuff (fibonacci levels, old support and resistance area).
This is the time I think is better to no short. Each dip is an opportunity to buy. 9600 would be a perfect entry. If btc falls under 9600, probably I am totally wrong, but if btc holds this level, my targets are 10400 first, 10800-11100 then!
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The first is done :D
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Red rectanlge reached... i could expect a little pullback now.
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