While admittedly having no clue as to what's going on right now, I see two paths for BTC. One considers reclaiming the levels we dumped to in spring 2021 as support (BULLISH). The other assumes we form a local top at current levels and establish a megaphone pattern (BEARISH) pivoting around the 1.4 fib line. Only time will tell.
Note
Updated picture, BTC broke above my initial upper trendline assumption, and has now hit resistance at the anchored VWAP taken from May 20thNote
Megaphone pattern still a possibility, we'll have to wait and see if we retest the 1 fib, or continue higher breaking our current resistance at the vwap line.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.