BTC are we breaking new high? or deep pullback awaits?

2019年7月23日

BTC has been rallying, although many believes that the rally is a ''fake bull'' move. I think we should take a look at BTC chart in LOG scale rather than LINEAR scale.
Right now we can see BTC is struggling to break up the major RES for new high ( highlighted in green box ).
However, taking a look at the HL HH HL HH structure, we are might be a miss from the major support. So do expect a deep pullback to $7000 possibly before price head highers to pick up more momentum.