BTC is either in an ascending triangle, OR a channel, if one is discounting the covid drop in march.
Having been just rejected from breaking out to the upside, logic would say the bottom of these structures now needs to be tested.
This leads to 2 target areas.. if an ascending triangle, we are looking at 10k bitcoin again. If just the channel, then bottom is closer to 11k.
We could ignore testing the bottom and retest the top, but I think it's possible we could retest the bottom, and there is always that CME gap at 9600 that could get filled.
GLTA
Having been just rejected from breaking out to the upside, logic would say the bottom of these structures now needs to be tested.
This leads to 2 target areas.. if an ascending triangle, we are looking at 10k bitcoin again. If just the channel, then bottom is closer to 11k.
We could ignore testing the bottom and retest the top, but I think it's possible we could retest the bottom, and there is always that CME gap at 9600 that could get filled.
GLTA