Bitcoin: Deep Dive

5 jul

Bitcoin managed to reach a new low within our green Target Zone (between $58,655 and $47,012). This move is in line with our expectations. For the time being, we give the price a little more time and room to the downside to complete the current green wave 4. Our Target Zone can, therefore, still be used to establish long positions, whereby a stop 1% below its lower edge could minimize risk. However, please note that BTC could turn upward again at any time, as the technical requirements for the correction low have been met. Subsequently, Bitcoin should continue its overarching upward movement. The first step should take the price above the resistance at $73,462.