BTC made a parabolic move and now we are seeing 3 lower highs and currently have 2 lower lows. We just got rejected at 11k and are failing to retest the 10k to 10100 area. If you look the alt coins have already retraced to the 618 fib from the top already. BTC is in an area when it needs to find support and make a new wedge to the other direction or we continue this downward move and finish to the golden 618 for a text book retrace. Market cycles this is what its all about. All the mooners sell the bottom as usual. We just might see a new cycle between 6 to 7k. Be careful out here. Patience is key let the price come to you. make a plan and stick to it. If we do retrace to the 618 and find support in the 8500-8800 area and consolidate this will be REALLY healthy for the next cycle. This bull rally had to pop and we need to hold in these areas. 3k to 14k bull move with a beautiful retrace to around 7-8kish with new consolidation we can most likely feel confident the new cycle for a bull move will be beautiful. Again this is all personal opinion but lets get it on the books and check back later. Bears are in control right now. Be safe be smart
Comment:
So far this area has held and consolidated lets keep a close watch on this and see if it gets shut down on thi move up