BTC: Think Twice Before Shorting Right Now
The drop from the Bearish Gartley BTC just had was caught quickly by the bulls, and although there are a few bearish indicators, such as the MACD on the 1D, overall BTC is still showing more bullish than bearish signs. Bulls have repeatedly held price above the 50% line inside the large consolidation pattern it is in, and just broke upward out of a smaller consolidation wedge through a price resistance line (the dotted red), currently holding well above the 618 fib. Usually a break out of consolidation like this gets more follow-up, so we'll have to see what happens. There is a decent chance BTC could break 10k soon.
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