If we look at the weekly chart and look at the boom-bust cycle of Bitcoin, we can find some common such as holding up at a certain fibonacci level over the last few cycles, if we assume that's going to happen again, it will mean we could have a retracement to $6000, $5000 or even $4000, of course, it might not happen and just shoot straight up to new all-time high, but I'm just talking about the probabilities.
I didn't make any short entry yet at the moment, even though I'm observing closely. At this moment, I'm looking at the $6600~6700 support range, although it doesn't seem like a strong support, I guess that's what we have for now.
I didn't make any short entry yet at the moment, even though I'm observing closely. At this moment, I'm looking at the $6600~6700 support range, although it doesn't seem like a strong support, I guess that's what we have for now.