Bitcoin lost the higher low pattern in the dump that occurred last night. It now looks to have set a higher low on the daily chart earlier today. We are now watching for a potential lower high on the daily chart to form and then a lower low to change daily trend back to the bears. This would lead to further consolidation on the weekly chart and provide more clues to the weekly equilibrium pattern we have been watching. Ideally the bulls would like to be able to hold support on the weekly chart in the $8,000 range or higher.
Bitcoin Daily Chart:
