The Next 12 Hours...

COINBASE:BTCUSD   Bitcoin / U.S. Dollar
... should be *very* telling with regards to which way things will go.

A full 4-hour candle closing in the cloud would indicate significant strength towards the return of the Bull Market.

Further retracement to the $8k level (staying below the cloud) would signal pretty strongly to me that we may not have seen the last of the downtrend and that the recent run up from the $6k level on the 6th is a Bull Trap.

Agree? Disagree?? Please reply and let me know your thoughts. Exciting times!!

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Appears BTC doesn't want to play in the cloud yet.
playadoc rbarbaro2
@rbarbaro2, thank you for engaging and commenting - I appreciate that. And yes, totally agree! It's continuing to slide, which is what I'd expect to see, given the indicators.

$8500 and below $8k are both still in the cards for the near future - the cloud is saying the latter is much more likely though.
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