Bitcoin is currently headed for a retest of the 6850 inverse head and shoulders pattern. This level is also the .618 fib level. At that level the market will determine whether we are in the beginning of a bull market or a continuation of the larger bear market or consolidation pattern.
This is a key area for trading, and for the next 3ish months of bitcoin price action.
This is a key area for trading, and for the next 3ish months of bitcoin price action.
Comment:
It looks like we have our retest, and we have an inverse head and shoulders bottom on the 5m candles.
Trade active:
In accumulation/buying range.