BTC is looking great for buying the pullback towards the 32k mark here's how I see it.
We have broke out of a key resistance level around 32k with a weekly close above this level with price running into some resistance at 35k which is actually a Monthly swing low from last year hence the stall in price.
The next likely path is a pullback towards the buy zone between 30 -32k this is the breakout area, 32k being old resistance now new support.
When you look at the Daily charts (image below) you can see the huge surge up at 30k which will be a nice area for grabbing liquidity as a newly formed untested BUY/DEMAND area.
Knowing how quickly BTC moves this pullback could happen very fast so it's best to have market orders in place maybe breaking the position up into several orders between 32k and 30k.
As for next targets if we get the pullback and the market reacts at the above levels then there is nothing really stopping BTC moving all the way up to the Monthly SUPPLY/SELL zone created last Year.
We have broke out of a key resistance level around 32k with a weekly close above this level with price running into some resistance at 35k which is actually a Monthly swing low from last year hence the stall in price.
The next likely path is a pullback towards the buy zone between 30 -32k this is the breakout area, 32k being old resistance now new support.
When you look at the Daily charts (image below) you can see the huge surge up at 30k which will be a nice area for grabbing liquidity as a newly formed untested BUY/DEMAND area.
Knowing how quickly BTC moves this pullback could happen very fast so it's best to have market orders in place maybe breaking the position up into several orders between 32k and 30k.
As for next targets if we get the pullback and the market reacts at the above levels then there is nothing really stopping BTC moving all the way up to the Monthly SUPPLY/SELL zone created last Year.
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