BTC on the 4-HR is showing higher lows on the CCI with the RSI remaining relatively neutral. This is a bullish indicator for me, though a brief dip to $7800 is not out of the question. I'm expecting the $7800 support to hold, and for BTC to gather strength from there while remaining in the falling wedge. In the near term there may even be a slight price boost to the $8.2k region, but a significant move on price is not expected until BTC moves out of the falling wedge.
Comment:
BTC hit the resistance line, and has started to fall back. Without a good increase in volume it is unlikely to break this line of resistance soon. Looking for BTC to consolidate around $8k before making a new push up. Once the resistance line is broken BTC is expected to face much more significant resistance at $8470.