- Bitcoin was rejected between 61,8 and 65 fib retracement previously at 10 000 and 8300 dollar and during the last wave up slightly below. Setting the target around the 6800 - 7000 mark. In case it breaks this resistance I don’t expect it to break the strong downward established since Mars.
- Takashi divergence signal (https://takashiclub.com) is not generating a buy signal on the daily. This indicates a current rather weak momentum, is decreasing slowly too. This view is supported by the ; not overbought nor oversold. Although has room to go up.
- The circled areas are consolidation-zones before a wave up. As you notice these zones become shorter and the shorter ones resulted in lower highs.
- is about to make a change in trend and has room to go up.
- Also keep in mind the XBT closure on 19 September and the decision by the end of the month.
In conclusion I see room for a temporary increase followed by dive into the 5k area. In case 5800 isn’t holding, I see 5400 - 5200 as the next major and turning the so strong 6000 - 6200 in a (huge) resistance.