Hey! At the moment, we have 2 scenarios for the behaviour of the price of bitcoin. Our recommendation No.1 It is worth selling at a local correction to the level of 8350 with stop loss at the level of 8650. Our recommendation No.2 In the variant with the upward model (right graph), we should expect a breakdown of the level of 8650, after that you can make long positions at the local correction.
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UPD for short scenario At the local correction we advise to short-sell of BTC
The retracement of the rally that topped on 10/25/19 is greater than
.618 and there's no chart support until the 7300 to 7400 area. It appears the path a least resistance is down. If this is the case watch for possible support near 7300.