The failure to break above 
12K and the subsequent sell off weakens the near term bullish case.
The outlook near term is neutral, as long as price remains between $9k and $12k.
If support at $9k fails, a re-test of the lows at $6k is likely as a double top will be in place.
However, the longer term pattern is still bullish since the longer term moving averages are still moving up.
12K and the subsequent sell off weakens the near term bullish case.The outlook near term is neutral, as long as price remains between $9k and $12k.
If support at $9k fails, a re-test of the lows at $6k is likely as a double top will be in place.
However, the longer term pattern is still bullish since the longer term moving averages are still moving up.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.