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Bitcoin- time to sell?
In my previous BtcUsd analysis I said that bitcoin can rise to 11k zone from 10k bottom.
Now the price is just into this zone…
With a confluence resistance given by ascending trendline and horizontal level, I expect a new leg down from Bitcoin that can bring the price under 10k to 9k support.
A sell trade around 11.200 can also have a good 1:2 R:R.
CadJpy- 80 should be sold:
After breaking the neckline support of the H&S that I ve spoken about in my previous CadJpy analysis, the pair dropped pretty quickly and reached the measured target at around 79 zone.
Now the pair is correcting this drop and a retest on 80 new resistance is not out of the question.
I will look for selling opportunities in that zone for a trade with 1:2 R:R.
After finding a top in 12400 all-time high, Nas100 had a normal correction and dropped 11k zone.
This 10% correction doesn’t change anything and both long-term and medium-term trends are bullish .
11k zone is well defended by buyers and I expect at least a retest of the new range’s resistance soon.
I will look for buying opportunities.
Gold- new leg down on short term?
After breaking under short term trend-line, Gold dropped and found support under 1940 zone.
This rally that we assist is a correction of 1970-1935 drop , and in my opinion, should be sold.
The target for shorts could be 1920 support and a rise above 1960 zone would invalidate this short term bearish outlook.