ZuluTrade Blog

BTCUSD recovered the losses within the weekend!

Market View | Monday, December 4, 2017 8:09 AM GMT

BTCUSD is strongly bullish. This is not negotiable. It continues moving parabolic to the upside and creates higher highs and lows. Every day, more and more institutions accept the BTCUSD phenomenon. This boosts BTCUSD's hot momentum. According to the daily TF, there no MACD or RSI divergences. The king of cryptos is near to recent highs. The bears have a real headache.


Heading to the hourly TF, the extended ABCD pattern was completed. If we keep the Fibonacci extensions as potential targets, then the buyers may target the 300% - $11643 level. Naturally, any setback to the downside, it may be considered as a buying opportunity. BTCUSD needs to violate $9950 or 200 SMA to negate the positive intraday bias.


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