Analysis from prior chart is manifesting perfectly. We saw a fakeout break of trend and a bounce to find stability right above again. Price approached set downtrend as shown in red line and is currently being denied. We could consolidate for a bit right under the trend which would also be building support above the 1hr cloud. Ideally I would stay out at these levels right now, there is way too much emotions and instability going around as well as fading sentiment. Ideally I would like to see more signs of confirmations to get a good idea of where we will be heading to. If we break the downtrend, expect the market to give you a good retracement to hop on, no need to fear on missing out.
Comment:
BTC has consolidated right under as expected and has broke out. I would be looking for a 50% fib retrace here for a possible buy and a test of support maybe on the broken downtrend. It is really hard to say still, but whatever you decide, position your buys according to liquidity and STOP LOSS yourself.
Comment:
Downtrend broken. Possible two scenarios, both will likely test 5900 and liquidate all buyers above 6k, one can possibly go upwards to 6500.