BTC consolidation -still strong
Hellooo guys, hope you had a great week! ;)
Grandpa Bitcoin is on full consolidation mode, which is very normal after the huge run-up. We barely upheld the equilibrium of consolidation: On the downside, we have slightly fallen to 6220 (before we had 6249 as lows), but it's still fine. The range to the upside is the clear 7.600, even though we have one ugly fake-out wick from yesterday.
We have perfectly touched 4H EMA 26, on the Daily we're far away, and can easily correct toward 7.000 or even retest the neckline of the inverse H&S.
Right now, the shape of the consolidation could be a Head & Shoulders in the making, with potential to break bearish, or, we can still break the equilibrium bullish to the upside.
I wish you a great weekend still! ;) Like & follow me in order to not miss my daily analyses!
About myself: Global citizen & early Bitcoin adopter from Germany. I invested in the 2nd rally from 50 to 1.000 Dollars in BTC.
Grandpa Bitcoin is on full consolidation mode, which is very normal after the huge run-up. We barely upheld the equilibrium of consolidation: On the downside, we have slightly fallen to 6220 (before we had 6249 as lows), but it's still fine. The range to the upside is the clear 7.600, even though we have one ugly fake-out wick from yesterday.
We have perfectly touched 4H EMA 26, on the Daily we're far away, and can easily correct toward 7.000 or even retest the neckline of the inverse H&S.
Right now, the shape of the consolidation could be a Head & Shoulders in the making, with potential to break bearish, or, we can still break the equilibrium bullish to the upside.
I wish you a great weekend still! ;) Like & follow me in order to not miss my daily analyses!
About myself: Global citizen & early Bitcoin adopter from Germany. I invested in the 2nd rally from 50 to 1.000 Dollars in BTC.
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