Analysing this rally on the 4H timeframe we ca see that BTC has formed an ascending triangle pattern basically bouncing beetwen MA50 line and 9500$ resistance. If we don't see a strong breakout in the next couple of days, considerning all the accumulation in the last week, this will bee a signal of a trend inversion or a major correction.
BTC price corrected from 9700 to 8700$, the first bounce turned down again to 8700. There is a second bounce back. If we see again 9100 area in the next hours this can form a bullish Adam and Eve pattern in hourly and probably surpass MA50 that will become a new support.
The bull run of the last days doesn't want to end. We had a small retracement from 9700 to 9400, but the bulls managed to sustain the price. Overall the market wants to go to 10.000 and trying hard to do so. I think we will see an accumulation phase in the next hours before starting a rise to 9500 and then 10.000 super strong resistance. We may see another down...
We've seen a good rise for BTC prices in the last days. There are some super strong resistance above so next hours will be critical. If buyers continue to support the price and BTC manages to close above MA50 in 4H timeframe we may consider it a good sign of trend reversal.
Even if I usually trade daily on the small movement I need to start my trade plan looking at the general picture. If someone is looking to buy BTC as investor, in my opinion there's no pressure to enter the market in this moment. Waiting for comment and opinions.
BTC testing the base of the trendline as support for the second time. Price has formed a descending triangle not a good sign. MACD and RSI are bullish, but we need more buy volume to escape the triangle and confirm trend inversion, otherwise I don't think the support will sustain the price for the third time.
BTC confirmed a higher low bouncing on the trend line traced from the dip of the beginning of february.
I expect a big up movement in the next hours. If the price surpasses the 50MA line will be a buy signal for many investors.