Once again Bitcoin is approaching a critical level based on our previous analysis.
The Golden ration number from our previous call at $6815 is within reach. Now we stated numerous times it is a very key level on the trend bitcoin will be taking now.
If this level holds which is our assumption, we will be heading up to test previous highs and also new resistance where the red arrow points.
If we lose the critical support however, the bearish scenario will be in play and it will take us sub $6000 with a high probability to hit even lows of sub $5000.
Our recommended trade here is ladder longs in the green rectangle area and HOLD them. Only SL if we break below $6650 since there will be a pretty high chance to rebuy BTC Alot lower.