If we pull out to the weekly we get a better picture of the longer term trend for BTC
I'm seeing more downside, possibly the 7K range and 78.6% on the Fib retracement. There is strong support from 6.8k down to 6k a fall below 6k will be a very bearish signal for me. In this scenario I believe we may see 4K again.
If BTC bulls win at either the 68.1 fib ($9770) or 78.6 fib ($7020) expect a new yearly high and I would also expect we could see a new ATH in 2019.
On the flip side a fall below 6k will create one last opportunity for BTC believers to fill their bags on the cheap. With a sharp fall to circa 4k before a we see a rebound surpassing current levels.
BTC playing out as expected. Halving is not priced in at this stage.
Range 60-100k
McPaddles
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**I exclude the parabolic ATH in the channel as this was not a natural growth pattern, but rather a growth spurt and subsequent correction following a conscious awareness phase.
This correction was the direct result of an logical sustained attacked attack on BTC.
Range 60-100k