Hey Hivers and Leo Heads! :)
Jumping into the markets today and it seems BTC has some bullish upward potential, please be assured this is only a short-term analysis and these markets are always changing! This is always the fact!
For the short term, let's jump into the current activity and how I'm seeing this play out.
BTC
BTC is showing some promise on a bullish breakout, and we might have a measured move target that could lead us even to the 10800 region. As my last point, we spoke about the CME gap at 9600.
It appears we might be heading to higher levels before coming back down!
For trading, we need to wait for the confirmation. As the time of this post, BTC is literally testing this breakout at 10266. If BTC can hold this level we can most likely expect a measured move target to 10800.
Please be cautious as always!
Also, if we do see this measured move target play out BTC is likely to face HEAVY resistance in the 11k region and will reject very likely on the first attempt so be prepared, and a good time to take profits if you're trading this short term action.
More updates tomorrow!
Hive Developer Evangelist & Market Analyst