Important resistance levels for this bearmarket rally

In every bearmarket there are rallies, this one is no different.

To find out how high this will go, we should not just look at the daily picture, because this can be misleading, but also the weekly picture.
This one shows that the upper bound of 11k is very unlikely to be achieved. Why? The upper bollinger band AND the daily MA200 are in the high 9k's.

I don't think btc has the strength to push through.

This rally will have the effect of weekly MACD turning green for a while, but only slightly and weekly stoch RSI going to overbought, very fast.
When weekly is overbought, we can resume our decline again.

But I will stay long until at least the lower bound resistance line. If it goes through, one can go long again until the high 9 k's. So: Short term long, medium term short. But longterm BTC is always long hehe.

Comment:

So, the pump is still going on, the question is now: how high will it go? The chart basically is still intact, with 8300 being very likely, 9800 possible, and 11500 quite unlikely, but of course not impossible.
I am still of the opinion that this is a bearmarket rally, and we have not entered the bullmarket yet.
After this pump, in a few weeks, we will very probably continue the decline.

Comment:

Well, it seems it didn't go through the red resistance line after all. As I pointed out, this was a likely scenario, together with the other scenario of hitting 10k. But apparently btc is weaker than I thought.