BTCUSD continues to show weakness here so further downside can not be ruled out. Price has failed to follow through with a break of the top of the Neutral zone (tan box) and is now threatening to lose the bottom of the neutral. I've marked out the two key levels to watch. A break below the 1st level would likely lead to a test of the 2nd key level. A break of the 2nd key level could potentially take us back to the 20K zone. All this is negated if price maintains the neutral and manages to push higher.
Comment:
As you can see the bottom of the neutral eventually held and the 1st key level was never threatened. Both bullish developments. So here we are testing ATHs again. Of note is that we now have bearish harmonic in play with the completion in the red box. I expect a pull back from this zone. If price negates the harmonic by breaking the X point and then the 1.13 fib extension the out look would be very bullish.
