BTC bullish push 1HR short term. What can we expect longer term?
1 HR Chart
On the 1HR chart we can see that we are making a bullish move with a bullish RSI divergence in blue and an inverse H&S. We have resistance at 0.618(@9k) of our white fib retracement and we seem to be forming an bullish ascending triangle. Once we break out of this resistance we can find resistance on our Daily.
1 Daily Chart
Going to our 1 Daily chart we are making support on 0.5 of our blue fib retracement. We would need to get above our EMA(21yellow,60purple) resistance. After that we would most likely find resistnace near 0.618 of our blue fib retracement. Past 10k and we would be in a breakout of our pink triangle that'll bring us closer to test our pink dotted triangle resistance that's there since 20k runup which we can see in our Weekly Chart. But things can look very bearish if we don't make it above our EMA's because it's looking for a bearish Daily crossover if we don't, and also a completion of wave B.
1 Weekly Chart
As long as we continue to stay above our EMA's(21 yellow, 60purple) and not break our 8.2k -8.5k support, we are bullish on our weekly chart and could even be forming a weekly inverse H&S.
On the 1HR chart we can see that we are making a bullish move with a bullish RSI divergence in blue and an inverse H&S. We have resistance at 0.618(@9k) of our white fib retracement and we seem to be forming an bullish ascending triangle. Once we break out of this resistance we can find resistance on our Daily.
1 Daily Chart
Going to our 1 Daily chart we are making support on 0.5 of our blue fib retracement. We would need to get above our EMA(21yellow,60purple) resistance. After that we would most likely find resistnace near 0.618 of our blue fib retracement. Past 10k and we would be in a breakout of our pink triangle that'll bring us closer to test our pink dotted triangle resistance that's there since 20k runup which we can see in our Weekly Chart. But things can look very bearish if we don't make it above our EMA's because it's looking for a bearish Daily crossover if we don't, and also a completion of wave B.
1 Weekly Chart
As long as we continue to stay above our EMA's(21 yellow, 60purple) and not break our 8.2k -8.5k support, we are bullish on our weekly chart and could even be forming a weekly inverse H&S.
Comment:
Looks like we did not manage to go above our EMA resistance and bears were able to push us below our 200 Daily SMA(red). We are however holding support at our 0.5 blue fib retracement. RSI tells me we still have room for more downside. 8K should be our next support.