The resistance levels on each of the lower highs ($11500,$10000,$8400,$7400,$6800) as well as the support at $5800 and $6200 are rooted in nature. The sequence is first set up when Bitcoin first hits $7400 and subsequently bottoms at $5800.
Those two levels remain critical. Daily candles above $7400 mean the bear market will likely end, and be followed by a new series of highs as it breaks previous Fibonacci resistance levels. Daily candles below $5800 mean we will see lower lows with likely support again at ~$5000
Those two levels remain critical. Daily candles above $7400 mean the bear market will likely end, and be followed by a new series of highs as it breaks previous Fibonacci resistance levels. Daily candles below $5800 mean we will see lower lows with likely support again at ~$5000