A lot depends on how Bakkt performs when it launches. Right now I'm leaning bearish and this is looking like the time we ranged before breaking that $5800-$6k support level.
The first drop and measured move down gives us the zone of $5k (depending on the 200MA) which would establish it as the Weekly higher low. I'm long term bullish on Bitcoin. Personally, I've been DCA'ing whenever it hits the $9500 zone.
Additionally, MACD is flipping bearish but is a lagging indicator. However, Bull volume is decreasing while Bear volume hasn't increased just yet but we shall see how the next two weeks go.
The first drop and measured move down gives us the zone of $5k (depending on the 200MA) which would establish it as the Weekly higher low. I'm long term bullish on Bitcoin. Personally, I've been DCA'ing whenever it hits the $9500 zone.
Additionally, MACD is flipping bearish but is a lagging indicator. However, Bull volume is decreasing while Bear volume hasn't increased just yet but we shall see how the next two weeks go.