Bitcoin has some difficulty around the 8000 level which apparently is good for alts at the moment.
I don't see this as a bad sign though. After such a big run btc needs some time to breath before we can continue higher.
I see to possible scenarios from here;
First i think we are going to retest the 7500 area. Which seems like a strong support at the moment. If this happens we would have completed a head and shoulders pattern. Maybe this means the we could get a bigger correction and a retest of the 6800 area.
Second, if we don't break the 7500 area at the next retest there is a strong change in my opinion that btc will go to 10k pretty soon.
Good luck and let me know your thoughts :)
I don't see this as a bad sign though. After such a big run btc needs some time to breath before we can continue higher.
I see to possible scenarios from here;
First i think we are going to retest the 7500 area. Which seems like a strong support at the moment. If this happens we would have completed a head and shoulders pattern. Maybe this means the we could get a bigger correction and a retest of the 6800 area.
Second, if we don't break the 7500 area at the next retest there is a strong change in my opinion that btc will go to 10k pretty soon.
Good luck and let me know your thoughts :)
Trade closed: target reached