Hello all!
Please reference my last post on BTC if you have not already done so!
The flag formation seems to be holding up thus far. We will most likely see this consolidation play out until the end of the daily close before seeing a spike to the upside.
Remember we are not trying to predict the future! Only anticipate it!
The 1H chart is possibly showing us a hidden bullish divergence in the form of increased negative momentum on the MACD with a higher low in the price. Much caution should be had upon approaching the $9,000 range as a higher high in price will most likely show as a lower high in the RSI and MACD at this point. A heavy rejection is likely to take place during such an event. Support at the $8,000 range will be tested if this flag fails to perform as expected.
Let me know what you think!
This is only my opinion and not to be taken as financial advice.
1D chart
Please reference my last post on BTC if you have not already done so!
The flag formation seems to be holding up thus far. We will most likely see this consolidation play out until the end of the daily close before seeing a spike to the upside.
Remember we are not trying to predict the future! Only anticipate it!
The 1H chart is possibly showing us a hidden bullish divergence in the form of increased negative momentum on the MACD with a higher low in the price. Much caution should be had upon approaching the $9,000 range as a higher high in price will most likely show as a lower high in the RSI and MACD at this point. A heavy rejection is likely to take place during such an event. Support at the $8,000 range will be tested if this flag fails to perform as expected.
Let me know what you think!
This is only my opinion and not to be taken as financial advice.
1D chart
This could go on for another 12 hours before we see a move