Swing trade for Bitcoin (BTC1!) - 1-hour chart
Bitcoin futures managed to fid support above $60k before snapping a 4-day losing streak. Bullish momentum increased from
64K
, and the move lower since appears to be corrective in nature against the strong rally from $64k.
A bullish outside / engulfing candle formed around the 50% retracement level and above Wednesday's daily TPO VAH time price opportunity, value area high).
The bias is now for a move higher towards 69K , with the potential for a move to $70k. At which point we'll seek evidence of a bearish reversal, given price action clues on the weekly and daily charts.
64K
, and the move lower since appears to be corrective in nature against the strong rally from $64k. A bullish outside / engulfing candle formed around the 50% retracement level and above Wednesday's daily TPO VAH time price opportunity, value area high).
The bias is now for a move higher towards 69K , with the potential for a move to $70k. At which point we'll seek evidence of a bearish reversal, given price action clues on the weekly and daily charts.
