Hello fellow crypto enthusiasts
Without further ado, let's take a quick look at the current situation of bitcoin.
Looking at Bitcoin's 1-hour framework, we can see that the price moved, rose rapidly in the last 24 hours, without however, the volume was not very high, which means that the movement was not particularly strong.
Looking at the 20H SMA, the price is above the line, something that can be perceived as bullish and the line could play as a support.
Looking at the RSI it shows that the price is overbought and soon a trend change or at least some kind of consolidation could be expected.
Jump to the one-hour MACD, it is shown that the current trend is up but according to the MACD histogram we can see that the momentum is going down, then, we can expect that the price can remain stable, we will see if the MACD line will cross the signal line.
Looking at the 4-hour frame, we see the price dump to the 100 4H SMA and take it as support while holding the 50 4H SMA as resistance in search of the $ 6,500 - $ 6,850.
The 4-hour RSI and MACD, the current trend is shown to be on the rise, looking at the MACD histogram, we can see that the momentum is strong right now and we can expect a price growth or maybe at least stay the same for some moments.
Now we go to the Fibo and Elliott waves.
We see that the price dump to the level of 0.382 and began to rise, I think that although it reached $ 6500, it will not cross $ 6850, it still has a drop to almost $ 5400 that coincides with the 0.613 of Fibonacci and wave c .
That is a possible scenario of the next moves.
That's all for today, thank you, greetings to all