BTCUSD weekly chart shows bullish reversal, indicating over the next few weeks we might see bull continue to push prices higher.
On the daily chart an inverted head and shoulders have formed on the bottom, but BTC continues to struggle against 6800, which it has touched several times. This week, there might be just enough...
We're seeing exhausted weaker bears over the last few days. RSI shows hidden slightly bullish divergence. We could see a retest of 6100 before making a lower higher then a higher high. No confirmation yet though. Wait for a higher low to form.
As I said in the previous post, BTC is showing signs of reversal and a breakout maybe imminent right now. A flag pattern has formed, volume shows accumulation, and RSI shows massive bullish divergence. Good luck longs.
BTC price is coming up against strong resistance at around 12,000 mark. It's likely to test against this price several times before a breakthrough is made, hence it's likely that price will fall back to support.