Hello Crypto Friends!
A quick update on BTC-
On the daily we have the wedge top trend line acting as resistance here as well as the 0.5 Fib and the 55 EMA -
As we are in an uptrend, its good to use EMA's for guidance. What we can see is the 55 EMA as resistance, however we can also see the 13 crossed the 21, when EMA's cross you normally see price action go towards them, which we just witnessed. Now the next target of interest is the 89 EMA sitting around $7660. Which lines up nicely with an old support now resistance.
On the 4 hr we can see that the we now have a nice trend line on the RSI which we are currently testing, we have a small wave of green coming through on distribution.
On the hourly we got that divergence i was looking for yesterday. However we are now looking to put in hidden bullish divergence.
The Money flow has cooled right off, and we look to be putting in a nice little wedge pattern.
I would imagine we see the next leg up soon. Keep an eye on the wedge!
Happy Trading!
