Since we have seen this pattern over and over again during this year, the approaching to 61.8 fibo at around 7500, give us a clear idea of what the next whale movement is. If you combine it with the finish of an retracement and the delay on the SEC´s , you have a high probability of seeing another epic decline at around 61.8 levels, so while we are printing in many exchanges an , and are , some alts are having a good time and I may profit until that happens, I´m definitely not positive on the Bitcoin short term future.
We could always get surprised, so we need the market pushing up the price and remain it higher - the closer price closes to the high of the day, the more the move and likely continuation of upward momentum to feel more confident in this momentum.
With all that being said, while we could hit 7200 very soon and have a pullback to today´s lows, chances of touching again the main are high, however we have to to be alert around those levels and don´t fall into fomoness, since just there is where every big challenge is, and as I said, we have seen this pattern more than once this year.
My bias remains intact and I expect a heavy retrace very very soon, so to change my vision about it, the bulls need to keep pushing the price towards the 7500 making a solid base around those levels for a few days, which could bring us 8500 and a breakout to 10k.
Things looks bad, I´m expecting a retrace from now/tomorrow, but even if we go again to 6800, this is definitely looking to retest the year low at 5780. I´ll update with a new chart by tomorrow.