The Bitcoin narrative keeps moving by hand of price action, even though we have a bearish divergence between the price and RSI on a higher timeframe, those take longer to play out.
Right now on a WTF keeps climbing through the long term ascending channel.
Even though im bullish for the long term, there has been many social and economical events that indicate markets are about to be shaken.. Now the charts are telling that we are going to catch some demand orders a bit lower, any correction or impulse is in a straight line, so bear that in mind before placing your orders.
On BTC we have a bearish divergence with...
A hidden bullish divergence is when the price makes a Higher Low but the indicator makes a Lower Low, having said that..
Be aware on a sudden rise on the Dollar and a shakeout on other markets, maybe we could be talking about a flash crash here.
Remember the stimulus checks have been delivered and spent on bitcoin.. what the government gives is to take it back.
Let’s take it to the daily timeframe.
Even it’s been a monster move, Bitcoin has a healthy uptrend, consolidating before next impulses..
Long story short:
If Bitcoin follows the red channel the next wave up is aiming to conquer the $80,000 USD area...
Remember consolidations and healthy corrections are needed to continue this uptrend beyond the first target 🎯