The fight upwards is still in play however the play downward is always an option too lol. If BItcoin were to really make a spike upwards, I think it'd look a little something like this. With multiple level of resistance to pass, this could very well be a long journey up to The Big Battle at 10.5K. Here is where I think we will see what BItcoin's winter will really...
After peaking above the resistance level at $7684 briefly, price level took an immediate drop down before gaining support at the 0.618 FIB level. Now with support and resistance between $7400 / $7450, bulls are due to continue their moon mission after surpassing $7450 and closing there. The battle of the comes up at $10.5K. Until then we feast.
Let me start by saying I'm definitely no permabull for any pair, commodity, etc. I'm loving the current positioning of the BTCUSD joint though. Here's much of what I'm looking to play out. Bold yellow lines are heavy support (imo), the thin yellow line appears to be a possible bottom-trend-line (tbd). You get the idea though.
*trade at your own risk.
