On the long-term Bitcoin is still bullish, no market will pump forever and no Bitcoin will not crash as well, let it have its healthy normal retrace to 61.8 level with sits approx at 7200, which also correlate with the futures chart gap. These short term moves ups and downs might be the real indication of having a ATH this year. Looking at the bigger picture makes us understand more. Overall, l will be looking to buy and hold at the 61.8 level as well as the 50%.
Comment:
A quick update after 3 month pass of the original post. As I mentioned in the simple chart using fibs on the weekly, the 61.8 level is my main level to watch. Depending on how the price will react at 7200, we would know if we gonna continue to the major support level which is 6000 with a little dip to 5800 or so, or the price holds the 7200 and we start gearing up for a target of 16000 and above. Will post another update soon.