BTC- Between the Lines

Atualizado

I think the price manipulators now know that the good Technical Analysts are now able to see what they are up to. They may have to leave it alone for a while and let the market dictate which way the price is going.
Does it go to 6k before continuing a long term bull run or not?
No-one knows, why should anyone really care? Play it as it comes and be ready for all directions.
The range is getting tighter and by June the first, we may know.

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Although still quite low, volume increased to be over the 20 bar average enough for BTC to breakout from the descending channel that began from the 5 May high.
It is now inside an ascending broadening wedge, retracing to about 8400.
RSI is at 62 with room for movement to the upside and the MACD line is also at 60 and diverged from the signal line.
If bulls display some increase in enthusiasm at 8400, BTC should be propelled up and over the next resistance at 8700. Then the battle will really intensify.

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Is that an increase in volume?
Are the two indicators turning up a little bit from their low zones?
Mmm... The Big Girl is not singing yet!

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Bouncing off the strong support level at 7810. This is also another lower low of the current short term trend.

The RSI is extremely low at 32 and is turning up.
The MACD is about to have a bullish crossover down at the -100 level.
Volume had increased, not only with sellers, for the last 13hrs but there needs to be a lot more buying interest at this level to gain momentum to prevent a breakdown through this support.

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iguana10

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