Bitcoin has adapted to the zone and is carving out a space that involved an ascending channel and a fibonacci game of tag. We can clearly see that we are in the fib zones on the short frame and as we need to be focused on a pullback, nothing is really giving us the indication that it is going to happen as we have buy orders waiting on the support/resistance areas as the are defined.
What this means? I see us in a period of indecision where horizontal action as well as minor movements ladder dancing fib lines until we complete the 4th arm of the elliot wave where investors agree on funding a push to the upside. This is a wait and see. I am not entering any position until clarification
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we will find support on the 0.5 , if you feel like making money in this market be careful and play with tight stop losses, once we show support we will test a higher high in the fib zones
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Might want to keep the fact we could be forming a double top indicating a correction. We need to make a strong push towards a higher high, if we can't find the "up" were bound to find the down. Stay Tuned, If I enter a short position, I will set up the trade in this published idea