Waiting some more, possibly no bullish breakout until September.
We broke downward out of the smaller wedge, and now seem to be riding on the support that started way back in May. 4-hour cloud is providing support as well. I'm not sure what's going to happen currently, although I don't think any big moves will occur, no pumps or dumps. I'm going to wait to see what happens over the next 3 days. Likely the price is going to stay on that bullish support line so you might be able to swing trade or scalp the price as it acts on support and resistance. I don't think we're going to break the resistance upward anytime soon, as when the price gets squeezed it'll usually break towards the overall direction in the market, and I believe we are still playing on a short downtrend.
I think it's good the price is getting squeezed and is acting less volatile as we head out to September. If we finish August bellow 10500 we'll be bellowing the Ichi cloud, providing resistance. Otherwise, the price getting squeezed on the daily will likely have a bullish breakout, as the overall market on the daily seems upward. In October 16k BTC is reasonable, so you can hodl currently as well.
If you long don't go all in. Buy some dips and be patient. I don't think bitcoin is played out on the bullish momentum. We might see a bullish divergence on the daily or 4hour which would be an excellent buy signal. If you're in a position to short then play on a small time frame, maybe only a few hours or a few days. At some point, the price will rise up and never fall back down to the current price. I believe that we'll never see a 4 digit bitcoin again, so for very long trades, it would be a good time to get in. I don't have anything to justify that though on TA, and in general it is just a bullish attitude.
I think it's good the price is getting squeezed and is acting less volatile as we head out to September. If we finish August bellow 10500 we'll be bellowing the Ichi cloud, providing resistance. Otherwise, the price getting squeezed on the daily will likely have a bullish breakout, as the overall market on the daily seems upward. In October 16k BTC is reasonable, so you can hodl currently as well.
If you long don't go all in. Buy some dips and be patient. I don't think bitcoin is played out on the bullish momentum. We might see a bullish divergence on the daily or 4hour which would be an excellent buy signal. If you're in a position to short then play on a small time frame, maybe only a few hours or a few days. At some point, the price will rise up and never fall back down to the current price. I believe that we'll never see a 4 digit bitcoin again, so for very long trades, it would be a good time to get in. I don't have anything to justify that though on TA, and in general it is just a bullish attitude.