Hey guys, just as portrayed yesterday, we have now clearly rejected from the 6850 resistance: now the bulls are gonna be looking for a Daily Higher Low.
The search for the Higher Low should ideally not go below the 61,8% fibo level, in order to remain in a core trend. This is right now at around 6200.
If we want to uphold the potential Inverted Head & Shoulders pattern on the Daily & 4H, our right shoulder shouldn't get below 6100.
=> Those are 2 levels for the bulls to be looking for. Should we lose those, it doesn't look good for the bulls, and can easily turn out be another bear flag on the Daily.
So: We're clearly underneath 4H & Daily EMAs now, and the bears have played the ball to the bulls: The bulls have to bring it!
If you find my analysis helpful, please like & subscribe, and watch my daily videos! Wish you a good trading.;)
About myself: Global citizen & early Bitcoin adopter from Germany. I invested in the 2nd rally from 50 to 1.000 Dollars in BTC.
The search for the Higher Low should ideally not go below the 61,8% fibo level, in order to remain in a core trend. This is right now at around 6200.
If we want to uphold the potential Inverted Head & Shoulders pattern on the Daily & 4H, our right shoulder shouldn't get below 6100.
=> Those are 2 levels for the bulls to be looking for. Should we lose those, it doesn't look good for the bulls, and can easily turn out be another bear flag on the Daily.
So: We're clearly underneath 4H & Daily EMAs now, and the bears have played the ball to the bulls: The bulls have to bring it!
If you find my analysis helpful, please like & subscribe, and watch my daily videos! Wish you a good trading.;)
About myself: Global citizen & early Bitcoin adopter from Germany. I invested in the 2nd rally from 50 to 1.000 Dollars in BTC.