Looking at the daily chart, we can see an inverse head and shoulders has formed, and currently we're at the neckline. Before trading on this though, I do want to bring your attention to some negative signs that this might prevent this from breaking out today. I'm seeing a bearish divergence on the RSI, and the buy pressure is clearly fading. MACD has not crossed over, and things could change, but not signs that you want to see prior to a breakout. Hence why it's always safest to buy the breakout and setup stop buy orders.
I expect a small test of the head, falling back to the 70-75 range, but as long as their isn't to much sell pressure I think it's not overly optimistic to think that's as far back as we could go. Things will depend on BTC as always, so this is all within the frame of mind that BTC continues to consolidate in 8.7 - 9.5k range. I've marked other points that I see as support for reference.
I expect a small test of the head, falling back to the 70-75 range, but as long as their isn't to much sell pressure I think it's not overly optimistic to think that's as far back as we could go. Things will depend on BTC as always, so this is all within the frame of mind that BTC continues to consolidate in 8.7 - 9.5k range. I've marked other points that I see as support for reference.