Simple chart of $BTC current situation

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Daily still below trendline. Bulltrap last two attempts of breaking it resulting in a 50% drop. Target if failed again would be around last bottom where buy support is strong. $BTC forming a double-bottom reversal from $6k is a plausible scenario.

Not making any big moves until up-trend is confirmed by a clear break of the downtrend or until we reach $6k zone again.

Currently hitting hard resistance around the 0.382 fib, previously acted as strong support during the down move. Even though intraday price penetrated it significantly the dailys closed around it.


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