Interesting analysis. Check out my analysis on the 15 min chart.
If bitcoin is going to start heading higher then we need to see the bulls win the battle over the bears on the smaller timeframes first.
Here is an update on my previous analysis:
You will notice there is a new set of fibonacci pivot points that have been established. We seem to be hovering around my yellow support trend line, which was drawn from a low in November 2017. Currently, the price has come back above that trend line and is above the current pivot point. We would like to see price breach the the R1 resistance level before we can become even slightly bullish.
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