BTC pull back short term 51,659

2021年2月23日

BTCUSD recent break out of down trend channel, looking for a near term pullback to the .5 fib area of 51659 as there is more resistance around these levels in recent price action. Lots of compounded resistance with 50 and 200 SMA nearby to push through for a continued move up and resuming of impulse wave 5.

Will be paying attention to backtest of channel breakout around 46-47k, also looking for higher lows printed after rejection of 51,659 area.

Always remember your risk management first and foremost.

Wolfgang