We have a bearish flag that BTC has been following. However, we also have the 150 moving avg forming a golden cross formation with the 200 moving avg. Not your usual golden cross with the 50 ma crossing the 200 ma but none the less it could provide some boost to BTC. This means it's decision time for BTC and it could go either way.
If BTC pops through the top of the wedge (outlined in green) we will have more bullish movement towards the psychological level of 10k and resistance level of 9750. If it breaks down through the wedge we would see 7000 fairly easily and perhaps lower to 6500. We would have to see which support lines hold up at that point.
This is on the daily candle, meaning we only have a couple days left before BTC is forced to chose a direction. Look for the breakout either way in the next day or two (three tops) before deciding any trades.
If BTC pops through the top of the wedge (outlined in green) we will have more bullish movement towards the psychological level of 10k and resistance level of 9750. If it breaks down through the wedge we would see 7000 fairly easily and perhaps lower to 6500. We would have to see which support lines hold up at that point.
This is on the daily candle, meaning we only have a couple days left before BTC is forced to chose a direction. Look for the breakout either way in the next day or two (three tops) before deciding any trades.