BTC Update
I was talking to you on Saturday about a possible wedge figure of downward enlargement and a potential partial rotation after a slight correction.
Bitcoin will finally have been able to hold its support zone between 7221 and 7275 and is currently trading around 7500 after breaking the wedge structure.
The technical situation remains rather positive on a daily and 4h horizon even if the indicators are starting to approach their overbought zone. On a shorter time horizon, 1h, we can distinguish the presence of a bearish divergence between the MACD and prices.
A correction after this bullish wave is therefore not impossible and Bitcoin could come back to test the 7275 again before rebounding.
If the BTC breaks its resistance before retesting support, then the 7800 will be the next logical target.
I was talking to you on Saturday about a possible wedge figure of downward enlargement and a potential partial rotation after a slight correction.
Bitcoin will finally have been able to hold its support zone between 7221 and 7275 and is currently trading around 7500 after breaking the wedge structure.
The technical situation remains rather positive on a daily and 4h horizon even if the indicators are starting to approach their overbought zone. On a shorter time horizon, 1h, we can distinguish the presence of a bearish divergence between the MACD and prices.
A correction after this bullish wave is therefore not impossible and Bitcoin could come back to test the 7275 again before rebounding.
If the BTC breaks its resistance before retesting support, then the 7800 will be the next logical target.
