BitcoinLong
1W Support Tested. Short term Long unless 6,000 breaks.
First test of 06 February's bottom (6,000) with a 1D low yesterday at 6,125.7. The volume continues to grow (45.58K), indicating a sustainable (bearish) trend on the 1D Channel Down (RSI = 31.391, Highs/Lows = -635.4209) assuming 6,000 breaks. If not we expect 1 - 2 days of consolidation within or near the 6,000 - 6,432.4 1W support zone, before a first test at 7,286.70 - 7,417.90 , followed by the 0.618 Fibonacci retracement levels (8,327.90 - 8,719.20). Short entries are still either on the break out below 6,000 (TP = 5,616.70 1W EMA100) or at 8,327.90 & 8,719.20 (which will of course take more time to be achieved).
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