This is the first Lower High in Bitcoin High Time Frame history. Notice that we are flattening out up here as well. I am not making predictions here, I am just point this out and going to pay close attention.
Entered trade after the 4hr found support on the bottom trendline in 4hr channel.
Bull DIV on 4hr increases chances of bull move bounce.
Target is where long term resistance converges with top of this channel around 9k.
Tight stop loss below recent lows provides good RR.
I believe we may be in longer term bear move, perhaps in a falling wedge.
When setting the fib at the breakout point and top of the recent bull move, we see price has fully retraced, finding support at the fib 1.
However, price is also attracted to the Volume profile point of control ( POC ). Which also just happens to align perfectly with the FIb 1.272 level.
it will be interesting to see where price goes should it fall below this...