$BTC has been in this wedge for over a week. Notes -> Tapped weekly open Bounced off the OTE fib level 1st trouble area is our monthly open at 9150 2nd trouble area is our .5 fib around low 9200s Once we get above the .5 we can easily target mid to high 93s. Reject from the .5 and we will go straight for mid 89s to form a bullish div . Overall macro bearish but...
A quick break down of what this indicator behavior shows us. When the blue band gets highlighted black our algo of exhaustion kicks in. Its a very strong indication that a top is in or near. You usually wait to get in on the retest which results in a bear/bull divergence, depending on which side you are playing. Currently -> Top algo fired in early May which...
It broke out of a 40 day downtrend while retesting it with an immediate reaction. Once we clear 3.5 we can target $5. This is how link looked before it took off on its massive run. Loaded up and ready to go! Dips are for buying IMO. Join our channel for updates or just follow us on twitter :)