Is Bitcoin Basing? Expecting Lower High.

Speculating that bitcoin will be short-term bullish from here as it puts in a lower high. Market structure and Fib levels seem to be lining up if you pull from the recent (bearish) impulse move off of 25k

Longs are counter trend at this point IMO

Comment:

looking at the 5M chart here. if this level breaks (intraday low) I would cut this for a small loss and move on. Any more downside would not be ideal for a bullish bias

candlyst
https://s3.tradingview.com/snapshots/l/lJQ1Xgry.png

Comment:

moving stops to break even

Trade active:

candlyst
https://s3.tradingview.com/snapshots/l/LbKlZBtZ.png

moving stops to 23000 now and locking in some gains.