BTC UPDATE Feb 16th 9:AM EST BTC 24,700
Added 2023-02-16 16:50:13 +0000 UTC
Good Morning
Just a quick Update:
I've received a dozen or more emails regarding the breaking of the 24,500 top. I want to emphasize that exact numbers are not that significant.
This is basically are retest of the recent top and although it is positive it does not represent a breakout. The current structure suggests we need a solid close above the last pivot at 25K to get excited. That move would also need to close there for 1 to 2 daily bars and at that point, we can focus on the 28K-32 K wall.
This recent move may have simply run the stops.
Bottom line is that I'm not at all convinced this is a breakout. We have a lot of work to do before I'm excited. Meanwhile, I still believe that the bottom is much more secure than it was in January.
I will do an update with Dick on the Weekend
Have a great day.
Martee
