BTCUSD on the daily chart remains bullish above the March 25 low of $3948. The price also trading the 200 day moving average which helps confirm that we are indeed on a bullish uptrend.
I would prefer to enter long position on a pullback. If we measure using Fibonacci retracement tool from March 25 low up to yesterday's high of $7450, we can get the $5451 to $6224 (38.2% to 61.8% range). I suspect that many will enter new long position at this range aiming for the July 24, 2018 high of $8648.
-marycrazy
