Bitcoin : Squeezed between a resistance and the 50Smma

Hi,

As you can see Bitcoin is getting squeezed between a supportive/resistive trend line, and the 50 Smma.
This implicates an important upward / downward move could be on its way, market has to make a bearish or bullish decision soon.
We have to pay attention to the shape of the incoming daily candles, to see if they form a bearish reversal or not.
Stay tuned

The Squeeze :

Comment:

If Btc falls from here, the fall of alts might be terrible, they are in bad shape right now

Comment:

Market decided to make the important move the bullish way.
When we see such a move happening, analysis should immediately be:
is it a false breakout? Will it stay above this trendline and use it as a support? Will it go below it during this day or in a week/in weeks?

Comment:

Just to see why patience is key in a volatile market :
In the morning, the daily candle was starting to print a bearish appearance

But at the end of the day, this is clearly a bullish candle :

P.S.: the day is still not closed, this candle could still change its shape and become bearish !
End of this TA.
Possible targets if Btc doesnt drop from here :T=7.777$, and T=8.646$
Bullish bias, possible targets still

Comment:

I guess if you're staring at the market you just see what i meant lol.

Comment:

Now it is squeezed below.
Do bots and humans know what they want? lol.

Comment:

Trade closed: target reached:

First T=7.777 reached

Comment:

At this rythm, we might hit the 2nd target of 8.646$ soon, why not today?

Comment:

Apologizes for the T=8.646$, it couldn't break above 8.500$
But profit is profit, sometimes you have to be very selective and only trade a few times in long time frames, better 3 solid trades in 3 months than 20 with a global loss