Looking at this chart, we can see that the move from the $5900 bounced off the .236 retracement level on February 11th. This was followed by a slight retracement to the $7900 level, but was followed by a strong move up to $11,700. Considering price bounced off the .236 retracement level in this current move, I'm monitoring to see if BTC follows the same path it did during its last move. I personally want to see the $7800 level hold if BTC doesn't continue upward from here, as that would provide evidence that we're operating in either a range bound or environment.
I'm looking to shave off some of my position at the $11,000 levels, potentially buying back in if BTC breaks the resistance at $11,700 decisively.
Have a great day everyone!