The exspected consolidation stopped near by the min fibo correction Level (tp1 former view) and a big bullish hammer candle was formed. Such a candle is a signal that the momentum is still strong bullish and the buying pressure is still given. The Level to watch is now: 4500$ Breaking that Level should initiate a new buying wave up to 4.800 respective 6.000$! Trading below 3.800$ means aiming the former BO-Level at ~ 2.900$
Former view: Is it time to short the Beast?
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prepare for breakout!
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nxt 1 ?
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aha
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last resistance before we see the breakout..but watch the rsi, he is soon making a sellingsignal in this tf