BTC - the confluence zone is still holding at horizontal support, 78.6 fib, bullish falling wedge, and upward longterm trend from July 2017. We are pressing right to the apex of the original wedge (which may have been invalidated already) so the next couple of candles will be interesting.
Shorter term, we can see a bearish pennant forming - a measured move down if this plays out will take us to 6400 and the previous low, although there is a square up candle and the Feb 2018 trendline in between (approx. 6980 and 6850)
Indicators are mixed, without much conclusive, and no new divergence on longer timeframes since the bullish seen around 24 hours ago and prior. Similarly the candles are showing indecision.
On the 1 hour the cloud is still quite thick and will likely need a pump of volume to make it up and through - will we get this at the weekend? Recent history suggests not.
Shorter term, we can see a bearish pennant forming - a measured move down if this plays out will take us to 6400 and the previous low, although there is a square up candle and the Feb 2018 trendline in between (approx. 6980 and 6850)
Indicators are mixed, without much conclusive, and no new divergence on longer timeframes since the bullish seen around 24 hours ago and prior. Similarly the candles are showing indecision.
On the 1 hour the cloud is still quite thick and will likely need a pump of volume to make it up and through - will we get this at the weekend? Recent history suggests not.
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