BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Hello traders,

The last couple days we have tried to break to 6550 resistance area . But as you know we failed to break it yet. I see all the little bull runs that we have now as corrections of the bigger downtrend. The 0.618 FIb retracement looks like tasty to all the target of the little bull runs. Last time we didn't make it(7350s). My target for this little bull run was 6800's. for now, that is out of reach and we have to look at the downside again. for now, 6220's looks like valid support.

If we can hold above the 6200 level we can see new tries to 6550 level and next 6800 level. If we break down first is 6100 short target after that 5800's will be the next major support. We touched this level already 3 times. I don't feel secure that it will hold again. if we don't hold 4800 is my next target for btc .

i don't play the long-term bull scenarios yet because i don't see any signs for it.

For the coming day's i will trend with the trend and that is still a little bullish . with a possible target of 6800. If we can't hold this level we can assume the little bull run is over and the bears are back in the playground.

Gl trading guys. Keep in mind trade with the market on a longer time frame.

Don't forget to follow me on twitter and Tradingview.

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