Now, BTC is in front very interesting resistances.
Looking at the Chart, there are 3 MAJOR resistances.
First Resistance at $6773 which is: 1. 0.5 Fibonacci level, which acted already a lot as a resistance
Second Resistance at $7200-7300 which is: 1. Target of potential Bullflag/pennant 2. Daily 50EMA 2. Weekly 10EMA 3. Monthly 21EMA
Third resistance at $7800 which is: 1. Target of the symmetrical triangle 2. Target of 2Day Deathcross (50EMA and 200EMA) 3. Potential "Bump & Run" resistance line 4. Weekly 21EMA and 50EMA 5. Monthly 10EMA
I doubt that BTC is going full into bullish mode during this corona & financial crisis.
After reaching those targets i want to see bullish divergences on the daily timeframe before im fully going into Bull-Mode.
@Sparkster, i think this is going way too long sideways :D
Right now it might be just a fast play.
Pump up to the 2Day deathcross at 7800 and then continuation of downtrend until a bullish divergence/hidden bullish divergence is on daily for a new strong pump.
Most strong bulltrends started with a bull div on daily.