Analysis:
Looking at the weekly chart, I would say it's too early to find an entry whilst price is still consolidating. Once we can see price breaking out of zone we can look for a retest confirmation.
To consider:
Overall history is very bullish.
Currently in bear market.
Crypto regulation nearing.
SMA crossing but no clear indication.
The weekly price is near the bottom of a channel and a double bottom has been occurred. This chart needs second try to go up. Therefore it needs a bull signal bar. It means that, high of the next candle should be above the high of the previous one and its close should be above the 50 percent of itself.
I noticed on the weekly chart for BTCUSD what looks like the left shoulder and head of a head and shoulder pattern with only the right shoulder left to form.
If we place a Fibonacci retracement from July 20, 2020 to the the ATH a retracement to the 0.618 level brings us down to the 32k area which is our neckline and where we recently started a bounce.
I believe...
