The Bitcoin has exceeded our expectation and has been steadily trading north, we recently exceeded the $6000 dollar price mark.
But as you know, markets don't just continue going straight up or straight down, at some point the market is bound to give back some gains.
Right now from the technical point of view, we may have reached a very critical level in the market.
1. we just completed AB=CD harmonic move
2. There a confluence of 1.414 extenstion and 1.618 fib inversion.
3. The RSI indication is showing bearish divergence.
We are begining to see a reaction at that level. if it holds there are two possible levels price could trade to and find support.
The first level of support is $4950 level and the second is the $3250. if the market is able to get to the 3250 level, it would be in confluence with the 200 EMA.
For now all we can do is watch what the markets decides to do and look for any high probability opportunity to get involved.
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