BTC price action rejected at .25 fib of pitchfork

BTC price action has been rejected at the .25 fib of the pitchfork drawn on the daily chart. Price action expected to drop down to the bottom of the pitchfork and either hold there or break below and hopefully hold support from the large white all time channel. While the ichimoku cloud is still bullish on the daily, it could act as support when price drops down and hits the top of the cloud or it could cut right through it. The cloud is bearish on the monthly chart, but bullish on the daily and weekly.

Targets are on the chart.

Kommentera:

big picture

Kommentera:

Close up on the daily with the 200SMA riding tight at the lower $6K level @ $6025.80