Looking at the Bitcoin Chart on the 12 hour time frame, it appears to have formed a pattern.
I would wait until a candle closes above the resistance line (Orange line) of the and then (and only then) enter a trade.
This very well could be the bottom of the current pullback from the all time high last week, but it is too early too tell.
If the pattern plays out the price target would be the top of the , between $66,000 and $67,000, but I would take profits along the way up, and watch out for that (zone #2) as it could be a bear trap.
If you got anything out of this, please leave a like & or a comment 🙂
If you disagree with my analysis please let me know your thoughts as well.