BTC: $8000 Support or Golden pocket .. which one will it be ...
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BTC has already retraced 50% from the high reached on 5 May. A bearish flag is busy to form inside the bullish descending wedge which makes me believe that BTC will drop to the $8000 support where-after it will bounces back. Should the $8000 fail as a support it will retraces to the golden pocket ($7800 / 00.618 Fib level) before it bounces back to start leg 3.