The 1W has been following a Lower High rejection pattern on the 0.786 level. Only one time this level wasn't reached but still the 9100 1D Support held and didn't break the sequence. Proof is that on the next bottom the 0.786 retrace was easily reached. This gives the impression that on the medium term at least, until 9100 breaks, BTC is .
But what about the shorter term right? Well as the title says we are on a critical turn. If the last low (9800) breaks then the 0.786 Fib pattern is maintained and we should be expecting a new Lower High (below 11000). If 11000 breaks, then this sequence is invalidated and we turn . Practically the W breaks into territory again and should look to fill the 0.786 Lower Highs.
Where do you think this fierce consolidation will lead us to? Fill the comments section with your charts!
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