Bitcoin is in a bearish pattern, although, that's what it looks like. It crosses the 61,8% in the fib-tool (using Bitfinex)and in using the fib-spiral it looks like this will be confirmed a bearish pattern. There is a S-H-S formed with a declining line. As part of this S-H-S is the retracement ABC pattern which is formed during the S-H-S. So all signs look like a short term bearish pattern indeed.
As bitcoin is pretty unreliable there could be support formed around the $11K level. This support could be formed when bitcoin breaks through the green Ichimuko cloud. We'll see how it turns out. This is NO sell advise or buy advise either. Enjoy trading!
As bitcoin is pretty unreliable there could be support formed around the $11K level. This support could be formed when bitcoin breaks through the green Ichimuko cloud. We'll see how it turns out. This is NO sell advise or buy advise either. Enjoy trading!
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