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Red = Resistance Green = Support Yellow = Uncertain Thickest = Major Level Thick = Mid Level Thin = Minor Level Just a diagram showing the major price levels to watch out for.
New range for BTC consolidation as it continues to move sideways. A few shakeouts/stop runs retested previous support levels, note that the long wicks all touch or come close to the .5 fib level. Also note that the wicks populate the blue box, which now acts as a demand area, whereas previous to the run-up it acted as a supply area. Resistance ~8300 has been...
Shorter timeframes appear to be showing somewhat of a fractal pattern. I think we might see some movement downwards before continuing to move up again.
8150 seems to be a key resistance level here (.618 fib level), the wick of the first big candle touched exactly, and subsequently touched a couple times afterwards. We're getting closer here and a clean break of that level could see it turn to support.
Based on the most recent fractal leg, it seems as thought the 15m candles are forming an inverse head and shoulders. obviously this is lower time frame so higher time frames take precedence, but the fib levels are key. if the inverse h&s plays out, we could see a return to .236. currently, maybe range between .382 and .5. if we break resistance at .382 then more...
each time the price crossed the moving averages and turns grey/red for a bit it's followed by explosive growth and a crossover into green territory. given that the recent move to 11200 matched almost perfectly with the .236 fib, it seems like we might be sideways here, loading up for another leg up.
It looks as though 38.2% retracement from the swing high is an area of high interest and support/resistance. After the initial dip, price tested this resistance level three times. It appears to be coming back down to it to test it as support, and if support holds, could be the beginning of an upwards move. If support fails, we could see retesting of the next two...