As I write this we are at $7750 and I'm looking at the 24hr BTCUSD chart for this analysis.
If the current price holds for the next 24hrs then 2 interesting patterns will have formed
1. (and is also shaping up for a bull cross over)
2. bull divergence
However, a follow on from bulls regaining control here is that a is forming on the 24 hour chart. Another possibility I include is a tumble down to retest $6k or lower because there is still a significant amount of FUD in the market right now.
I also point out an at 60 where it will be a good future sell point for those who are into day trading.
To summarise, If the price holds above 7.6-8k for the next 24hrs then two indicators show that bulls can regain control and there is a high likelihood of the more long term forming. Regarding the , the price would have to increase back to $10k at least for the to be considered truly formed.
Yours in Crypto,