Bitcoin may be building a bullish bat harmonic pattern here. We had ~50% pullback following the breakout and an attempt to squeeze higher following consolidation that stalled. If BTCUSDT doesn't recover here, as the OBV threatens to fall below support on the 15min, expect a pullback to approximately the 88.6% retracement of the impulse leg or ~6877 for the reversal zone. This should provide support for a bounce back to 6950 or so for 1st target and 6995 for 2nd target (61.8% of A-D leg). From there, higher time frames will need to be analyzed, but currently the 4-hour chart looks suspect based on the previous failed breakout attempt. Another squeeze is always possible, but I'm back to just scalping the cryptos until we can solidify a close above the 50 ema on the 4hr.
Trade ist aktiv:
This trade triggered and played out nearly perfectly. I exited as planned, but was able to re-enter back at 6950 a little less than an hour ago. This looks primed to go higher, folks. That pullback and bounce was beautiful.