I wrote about a trend reversal signal based on a bearish divergence in the 4H timeframe. This post you can find in the related ideas.
The daily chart also gives us an understanding that probably the price will move downward. The resistance zone is formed by 9000.00 and SMA200. It can stop and reverse the market, and it will be good. We need a correction movement and reversal signals, in order to join to the uptrend. RSI is at the overbought zone, and it will be able to confirm the price reversal. MACD histogram supports a downward movement. We have bearish signals, and only the time will show how they will work.
If the price breaks the resistance zone and it isn't a false breakout, the next target will be at 10 000.00 resistance.
Disclaimer! This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
You're right that the daily 200 SMA is strong resistance but a trend reversal is not very likely from this point as we have now found support on top of the daily ichi cloud, and the resulting sideways movement from being stuck between the daily 200 SMA and the top of the ichi cloud is giving lower-time-frame oscillators a chance to reset and gain the strength/momentum BTC needs to break through the daily 200 SMA. Of course - anything could happen because it's Bitcoin - but the most likely next move from here is up. Once we get up to 10 or 11k, then we can start to talk about not reversal but a big pullback.
@Wojak, but is he thorugh? if price brakes a line that does not mean its over, you need to wait for candle closes above this lines and other conformations. yet here you can clearly see that in a same candle price retracted and bounced down.