Closing above on the 1 hour we now want to retrace and see some reaction off that green box.
We could also just hold here now and continue.
If we retrace too far then we might have some problems, we would then retest above and look for further lows well into the 30k's.
Just don't be biased. Price action is fluid. Trade it.
Zooming out a bit, (the price action works the same on all timeframes) we still looking for that small retracement to make new local lows.
The end target is the original failure area of this range. We should then see another pullback to retest and confirm the continuation.
I still have 64K targets from this area too. So this could be interesting.
This is my Price Action idea of where we will be going with the price of Bitcoin over the next while.
So many people will be caught up in the 60k area again and call manipulation when we start dropping.
Its glorious and "normal" when price goes up, but when we drop even a bit, people can't understand why and so call it manipulation to shift the blame when it's all...