Usually floors & ceilings are based on simple price points, but they can also be created by completion of new patterns that halt a trend. This is a one-hour analysis of the same BTC/USD pattern we've been following lately, and there's an itty bitty full on 8 wave pattern this week that has halted the previous decline.
I've been bearish on my BTC/USD predictions, but the recent price action has been tickling me that I was wrong. W/ the completion of this wave, and the recent breach of $11,000, I'm now calling for BTC to have a consolidation-turn-upward bias. It seems that the downward pressure has been exhausted, and the risk markets are recovering, even if a U.S. tariff trade war is possible (I doubt it).
I've been bearish on my BTC/USD predictions, but the recent price action has been tickling me that I was wrong. W/ the completion of this wave, and the recent breach of $11,000, I'm now calling for BTC to have a consolidation-turn-upward bias. It seems that the downward pressure has been exhausted, and the risk markets are recovering, even if a U.S. tariff trade war is possible (I doubt it).