The problem I have with bitcoin is that I don't have clarity about tether and their moneyprinting and unless this is not taken care of I don't have confidence in crypto
the divergence is still going on. but the price has broke out over the 200 EMA with a noticable volume and you should watch it closely now. If it stays above the 200 day EMA it's a good sign and might be a sign for more upside
So let's start out with the larger Timespan and check out the daily Candles on the chart.
We had a nice run and it broke out of the steep downtrendchannel (red) but we didn't stay above it because of the bearish divergence and we have now fallen back into the red channel. the daily MACD shows that we are crossing the Signal line, but it is very far below the 0 line. Unless the orange signal line doesn't point upwards, we're still in for possible retests for support.
This weekend will show, if we move back to the blue trendchannel or stay in the red trend channel to retest the bottom blue trendline.
in the 4 hour chart you can see that the MACD is is pointing downwards and if it crosses it we might fall down. to my target the blue support trendline.
If we manage to stay above the EMA we wi'll definitely break out of the red downtrend channel and move to the broader blue downtrendchannel.
until then watch you're EMA and MACD and RSI.
good luck trading.