BTC still in downtrend channel. BTC may retest 6.5k support. If not strong enough, we may see 3k-3.5k support.
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We should wait until daily candle close. We may see morning doji star. Means, bullish reversal. At least for tomorrow. We may see btc with 8.4k-8.8k price to test resistance of downtrend channel once again.
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Weekly candle of ichimoku analysis shows that kijun sen (red) officially above tenkan sen (blue). Weekly MACD and RSI also show that downtrend still continue. This is the sign that bearish btc still in play.
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BTC price nicely bound from 7300 area. It means that this is the end of 5 wave of elliot wave. Next, we will expect BTC price movement for ABC correction. As we see at 1 Hour chart, MACD start to drop and RSI is near oversold area that expecting a dump to B. before going up again to test the resistance line. If resistance break, we may able to see price up to 9500 again.
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BTC broke kumo cloud. BTC become bullish for a while. Enjoy the ride.
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Correction to point B done (yellow line). We may see down again to C (yellow line)