#BTC
Despite the formation of a possible upward wedge, in small timeframes the price looks rather bullish. You can see a tight resistance near the level of 6625, which the market is trying to overcome more than once. At the moment, the Stoch RSI bounces off the oversold area and can move higher, which will give a chance to tighten the price again to test the level of 6625. Overcoming this resistance will push the market to the next target area near the zone near the level of 6835. But small scales can be misleading and show unnecessary " noise ", so we are looking at the scale of 1 day: Stoch RSI is still very bullish, and MACD may intersect and move higher, which will give the chance to push the price some more time up.
From the negative point of view, on the 4-hour scale, the formation of the figure is visible, the breakdown of the lower edge of which will direct the market and further follow the downtrend, and the growth of the last days is only a correction of the fall, but not the prerequisites for a global turn and then the range of trade at lower levels.
Despite the formation of a possible upward wedge, in small timeframes the price looks rather bullish. You can see a tight resistance near the level of 6625, which the market is trying to overcome more than once. At the moment, the Stoch RSI bounces off the oversold area and can move higher, which will give a chance to tighten the price again to test the level of 6625. Overcoming this resistance will push the market to the next target area near the zone near the level of 6835. But small scales can be misleading and show unnecessary " noise ", so we are looking at the scale of 1 day: Stoch RSI is still very bullish, and MACD may intersect and move higher, which will give the chance to push the price some more time up.
From the negative point of view, on the 4-hour scale, the formation of the figure is visible, the breakdown of the lower edge of which will direct the market and further follow the downtrend, and the growth of the last days is only a correction of the fall, but not the prerequisites for a global turn and then the range of trade at lower levels.
