Counter-trend rally is likely coming to an end.

9. Apr. 2018

I had wrongly predicted that this counter-trend rally would turn around before $7000; however, I still do not see this move as a primary trend reversal, unless we break above the $7250-$7500 level, which I do not foresee happening. On this chart you can see 8 different price targets for shorting BTC, from the most cautious retracement to the full retrace. I have my own buy order in at $6660 yet I may just put that number up depending on changing circumstances. Essentially this trend upwards is running into upper resistance on volume profile, previous support acting as new resistance, and you can see that the highs are shortening in price difference, that means that the bulls are not pushing up highs as far up from each other as the last highs; simply put, the bulls are running out of steam.