Starting with the that sent us from 12k all the way down to our low of 6k.
This of which completed a beautiful that has sent us soaring to where we are now.
After an 80% increase from the bottom, we now have multiple patterns forming. Most of which are showing completion within the same zone.
The chart above shows many possibilities. We have a Bearish Bat, Bearish Butterfly and even TWO Bearish Crabs.
Three of which are showing heavy resistance from 10.8 through 11.1k. Meaning this could be an excellent short opportunity.
If Bitcoin manages to break past the 2.618 fib level, the next major resistance would be the downward . Then the completion of the extension following.
If these patterns complete themselves, my first major target is $9.1k
Possibility giving us all another great buying opportunity!
I wish you all the best of luck!
We could bounce from any support level! If short, be on your toes!
Primary Support Levels:
1st = 10k
2nd = 9.1k
3rd = 8.9k
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Here is possible bullish scenario, which we retrace and then form an inverse head and shoulders.