Nevertheless we see a breaking down of the pitch and touch of the support while sell increases. It means that in case of breaking through local the price can start consolidation around the next major which is going to be Fib. 0.618 around $6 900
Distribution or accumulation period takes longer than expected, so we don't make final decision according to BTC . Lets see how market reacts to R1 and how would support works here.
Currently it is Alts time and all our recent signals reached all targets. Today we will produce 2-3 profitable Alt calls and one of the signal will be shared in the Basic channel
• A confident uptrend can not presence without corrections and there should be one to start a new growth wave from the higher point. According to technical analysis, we have received an ideal correction movement with a rebound from 50% if Fibonacci, which threw the price back to $7 200.
• Corrective drawdown closed the gap to CME in the levels of $6 430 - 6 870.
• An important consolidation zone, formed from September to November 2019, served as an excellent support zone and added strength to the upward momentum.
The market at the mid and long timeframes seems to be bullish: its technical part and the mood of the crowd tells that there should be another growth wave. It is likely that we will see BTC at $9 500 - 10 000 zone soon