6425 is a key inflection point that must be taken out in order for price structure to provide evidence of enough buying activity for a retrace back to the high 7Ks or 8500 resistance. Otherwise, it is setting up for a new sell signal that can see a test of the 4K low over the next few days. With general fundamentals intact, the broader price location still serves as an attractive area for portfolio accumulation.
BTC Technical Analysis for the Week of 16.02.20
This article was written by Marc Principato CMT, Executive Director at Greenbridgeinvesting.com.