BTC - boringly neutral per previous analysis continued for quite a while (I don’t consider the sideways motion and trickle down as worth writing home about!)
Tonight, however we have seen a rally, leading to a breakout of the shortest term wedge. However resistance is being experienced currently at the previously broken longterm support line which ran from July 2017 to present.
A short term pattern is forming but as yet unclear whether bullish or bearish. Indicators however are not overbought or yet confirmed divergent on the higher timeframes so if we find the buying volume, we may have the capacity to push through this resistance.
Next resistance above is the 78.6 fib and a couple of previous high volume zones at 75-7600, followed by a square up opportunity at around 7870.
Failing that we will likely fall back into the wedge and take out the square up at 6980.
Tonight, however we have seen a rally, leading to a breakout of the shortest term wedge. However resistance is being experienced currently at the previously broken longterm support line which ran from July 2017 to present.
A short term pattern is forming but as yet unclear whether bullish or bearish. Indicators however are not overbought or yet confirmed divergent on the higher timeframes so if we find the buying volume, we may have the capacity to push through this resistance.
Next resistance above is the 78.6 fib and a couple of previous high volume zones at 75-7600, followed by a square up opportunity at around 7870.
Failing that we will likely fall back into the wedge and take out the square up at 6980.
Come say hi @elisa_crypto on twitter!
