RSI Divergence: We see a bear div on the RSI as BTC made two higher highs while the RSI made lower highs each time signalling a top may be in for the short term.
Green Box (Price is there): There has acted as a strong support and resistance in the past so it makes sense BTC will need to cool off here as it may take a little more effort to get through this resistance as it has been support and resistance in the past.
White Line: The 9400-9500 area has been a local resistance as we have 6 touches to this area and it acted as support on the retest last time BTC broke the 9400-9500 area.
Ichimoku: We see a C Clamp has formed as price has quickly ran away from the Tenkan and a Tenkan retest would not be abnormal in order to continue its next leg up. The Tenkan should sit right around the 9400-9500 area when price will test it, it currently sits at 9365.
Fib Retracement: I also added a fib to the last leg up and we can see price would act in the 9400-9500 area in accordance with the top of the Kumo Cloud where the Fib levels would be between 0.382 and 0.500.
There is a good amount of confluence here. I will be watching the Tenkan in coordination with the 9400-9500 support/resistance level and see how BTC interacts with it. Likely will be a good place to add back some bids.
Green Box (Price is there): There has acted as a strong support and resistance in the past so it makes sense BTC will need to cool off here as it may take a little more effort to get through this resistance as it has been support and resistance in the past.
White Line: The 9400-9500 area has been a local resistance as we have 6 touches to this area and it acted as support on the retest last time BTC broke the 9400-9500 area.
Ichimoku: We see a C Clamp has formed as price has quickly ran away from the Tenkan and a Tenkan retest would not be abnormal in order to continue its next leg up. The Tenkan should sit right around the 9400-9500 area when price will test it, it currently sits at 9365.
Fib Retracement: I also added a fib to the last leg up and we can see price would act in the 9400-9500 area in accordance with the top of the Kumo Cloud where the Fib levels would be between 0.382 and 0.500.
There is a good amount of confluence here. I will be watching the Tenkan in coordination with the 9400-9500 support/resistance level and see how BTC interacts with it. Likely will be a good place to add back some bids.