BITCOIN APPROACHING THE TARGET 56500
As per our last post last message to BE the trades entries around 59144 have been closed by half TP and half hitting the BE. The result is coming, we are heading towards our target bottom of D-Channel at 56500.
We have to look around at 360 degree in the market as it moves in zig zag pattern and never go straight. That is the reason we look for small opportunities to pick in the way.
Now, there is a buy chance around 56500-56000 but if the stop loss gets hit 55500 then there is a great chance that price might test the bottom line of D-Channel and gets rejection from it to head towards 50500. Further to elaborate, but it will be before time, 49500 will be the strongest support in larger time frames.
On the other side if the bottom of D-channel rejects the price and make bounce to head towards top of this channel then our immediate resistance will be at Sma200 60000.
Good Luck!
