BTC Decision Point
BTC is in a very important place to determine its short term actions over the next couple days.
If it stays above the trend line, it will be a very interesting next couple of days with more bull momentum across the whole market.
If it hold the 0.786 fib, and moves sideways under the trendline, this would be fine and healthy consolidation.
If it is breaks below the 0.786 fib, it will be another hurdle for the bulls to overcome in the short term.
At the moment it's in a falling wedge, which are supposed to break upwards. I don't really have any expectations though.
In my opinion as long as it remains above the 0.618 we're still looking for all time highs. And it is still clear that any dips should be bought.
If it stays above the trend line, it will be a very interesting next couple of days with more bull momentum across the whole market.
If it hold the 0.786 fib, and moves sideways under the trendline, this would be fine and healthy consolidation.
If it is breaks below the 0.786 fib, it will be another hurdle for the bulls to overcome in the short term.
At the moment it's in a falling wedge, which are supposed to break upwards. I don't really have any expectations though.
In my opinion as long as it remains above the 0.618 we're still looking for all time highs. And it is still clear that any dips should be bought.