As we can see, Bitcoin has to overcome two more supports on the Fibonacci retracement before truly and strongly going to higher scenarios. The current daily candlestick is breaking down with a massive volume over the average which means the big players and whales are involved in this particular price. The market doesn't want the price to go higher just yet. There is a little bit of manipulation as well as a psychological response from the overal market to the new ATH.
I don't advice to go long unless you are buying in the area below 20 level on the RSI. At least, in my trading plan this always works.
Once the RSI is on below 20 and Bitcoin is rejecting the Fibonacci retracement's supports, I am going long very hard.
Not financial advice, but for educational purposes only, always do your own diligent research.
Doubt it would get that low that would invalidate bullish view, maybe 59k-60k
nicolashuljich
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@CryptoYoungOG, personally I don't expect for Bitcoin to drop that low with the incoming news of new ETF and more, but I have to be objective and say it as it looks according to technical analysis. Hopefully it bounces on the first Fibonacci's support and from there keeps the bull run.