BITCOIN #BTCUSD - up we go? $10k in the view!

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
The end of the C wave from Wave 2 at $ 6,500 resulted in the price above the short-term trend line and the $ 7,500 test, which was then stamped. Currently, this level is a support for the price.

The rally on the increased volume ($ 1,000 an hour exchange 30k of BTC contracts) caused the price to reach the local resistance level at $ 8,265. This level is the last technical resistance against 38% Fibo at $ 8,438.

Nevertheless, the more important technical resistance, the overcoming of which opens the way above the level of $ 10k, is the level of 50% Fibo to $ 9,058 and lying down the technical resistance zone at $ 9,222.

Overcoming these two zones will be a good prognosis for further increases.
Comment: Consolidation phase now, but the technical support at the level of $7,506 must hold the supply pressure in order for Bitcoin to rally higher.
Comment: This is developing by the book: one more small sub-wave to the downside needed.
flat is a sideways correction and wave B of a flat normally has a deep retracement tendency.
But that looks like a rising wedge? Do you think it will Hold? It seems like a giant bull trap about to collapse.
Like to read you. Thank you Sebastian !
+1 Reply
bearish divergence right here.
+1 Reply
@bahmani, Never apply RSI during chart patterns/consolidation/distribution/sideways. From the RSI, we can clearly see that it hold the resistance level above 60-70 RSI. I hope I am clear on this. See you buddy
@bahmani, you are right, but at the same time there is hidden bullish divergence saying that although there is a bearish divergence it will rise again in the next period.
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out