Possible bitcoin reversal (tweezer top pattern on daily chart)
Taking a look at the daily bitcoin chart with the Fib retracement tool. It looks that we may have formed a tweezer top at the all time high. If the current daily candle doesn't close above the top could it be safe to say we may see a possible reversal to the 0.236 Fib level at approx $57500. Keep in mind a re test of this level would still have Bitcoin in a bullish trend as it would still be floating above the daily EMA ribbon.
The breakout above the previous all time high wasnt supported by as much volume as previous ATL breakouts which could see bitcoin drop back down a little to cool off. Again, don't think this is necessarily a bad thing. If we want Bitcoin to continue its tear it needs to time along the way to cool down.
The breakout above the previous all time high wasnt supported by as much volume as previous ATL breakouts which could see bitcoin drop back down a little to cool off. Again, don't think this is necessarily a bad thing. If we want Bitcoin to continue its tear it needs to time along the way to cool down.
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