After a massive bull run to 13850 Bitcoin looks like it needs to consolidate.
- The 4H, 12H, 1D, 2D, 3D and Weekly stochs are all curling downwards. This would imply some more continuation sideways to down.
Because of the higher time frames like the 12H, Daily and Weekly looking tired, I give them more weight for getting the general trend of BTC.
After a huge rally there has to be some sort of cooling off period, which BTC is most likely already doing right now.
- There is Bearish Divergence on major timeframes like the Daily, 2D and 3D. This would signal some lower prices after such a large pump.
At the moment there seems to be a nice consolidation region between 10750 and 12370. For the moment I would expect BTC to float up and down in this region. But if the lower or upper lines break, there will be continuation unless of a fake-out.
Some of my own targets for BTC would be 10000 (previous price activity, and strong psychological support), if 10k breaks, then 9000-9500 would be the next areas (the 21 Yellow EMA on the 2D and the 10 Red Simple on the 3D provide strong support).
- The 4H, 12H, 1D, 2D, 3D and Weekly stochs are all curling downwards. This would imply some more continuation sideways to down.
Because of the higher time frames like the 12H, Daily and Weekly looking tired, I give them more weight for getting the general trend of BTC.
After a huge rally there has to be some sort of cooling off period, which BTC is most likely already doing right now.
- There is Bearish Divergence on major timeframes like the Daily, 2D and 3D. This would signal some lower prices after such a large pump.
At the moment there seems to be a nice consolidation region between 10750 and 12370. For the moment I would expect BTC to float up and down in this region. But if the lower or upper lines break, there will be continuation unless of a fake-out.
Some of my own targets for BTC would be 10000 (previous price activity, and strong psychological support), if 10k breaks, then 9000-9500 would be the next areas (the 21 Yellow EMA on the 2D and the 10 Red Simple on the 3D provide strong support).