(1) Bitcoin that arose from a bottom (inverted ) pattern that confirmed after price close above ~$6,869.60.
The implication of the Head and shoulder pattern based on price projection has run its course leaving the current in Bitcoin ( BTCUSD ).
Also adding to the current scenario is the break above the long term with price action establishing higher highs and higher lows.
(2) ~$7,554.80 and $7,296.60 indicate support region for Bitcoin ( BTCUSD ) with price reaching the top of the channel at ~$8,500.10. The horizontal support region is well within the bottom of the channel, which increases the chance of a possible sell off that should target the support region as mentioned above. Price reaching and consolidating around support implies higher price that should see Bitcoin move above $8,500.
(3) The green line marked on the price chart and on the indicates a divergence which suggests also that the current momentum has run out. It is therefore better to have momentum confirm the resumption of the before establishing long (buy) positions.