BTC need to hold $8500 and start getting over top of that $9000.
Price need a forming a higher high and we still haven't gotten it in the macro sense.
From the last higher high at price $14,000 then we had a lower high at $10,500 and now we're having this area of arond $9500, what we're trying to determine is this point just a lower high? Was this all just a reaction or BTC gonna go back up and challenge that $10,500 to see if we can actually break through it.
Notice there is long leg nasty candle appear its upper wicks even longer so that's even more brearish and it also came on extremely heavy after a long white candle.
(A lot of time see long white candle and then if a or a after that, meaning potentially could show the price at TOP and what we're dealing with right NOW.)
Then we almost have a candle appear the wick may not be as long enough but it close to a , and then a short day candle with another appear which meaning there a lot of FIGHT in this area.
The bull need to hold $8500 on the one day time frame where we hold for support. If we don't then we will look at 200MA at $8000 in the further move. ( BTC historically break through the 200MA then actually back test it a lot of times.)
Stock is at 87 and 90 right now and that's also corrrelating with all indecision candles or potential reversal candle tier. It's need to cool off on the Stock .
Oscillator is positive into the green but see we're starting to lose a little bit of momentum here at top.
at around 70 overbought territory
I am look for a great long opportunity when I see it, we are not there yet beacause we get some massive manipulation that goes crazy.