7000
BTC has good chances to make a bullish breakout#BTC 4h
Bitcoin still looks good for holding a long position, despite the lateral movement at current levels, the price has good chances to make a bullish breakthrough in the current day. As the price increases, we recommend that you partially fix the profit, and stop the stop to move to the breakeven level. Target levels remain the same, besides, there is an opportunity to touch a tight resistance of 7000.
Bitcoin: The case for a move down.Bitcoin has grinded its way back to the 61.8% fib retracement of the fall from ATH to the recent lows of 5550. The 61.8% also happens to line up with previous support and the psychological level of 7000. Would not be surprised to see a move back down into 6000 and lower over the next few days.
If 7000 does not hold to the upside 7200-7400 would be last bastion before a continued press higher and new ATHs.
However I do not recommend shorting this beast as that's a good way to burn your account.
Let me know your plan / thoughts below on bitcoin from here.
Good trading all.
Luke