4h / bullish falling wedge, bullish RSI div, bullish flat kumo
Daily kijun seems to have held for now and we have a fair few bullish indicators forming on the four hour.
1/ key 0.382 fib level is acting as support for the moment and should the price break through and confirm it may be a pivot.
2/ bullish falling wedge developing, also visible on daily
3/ flat kumo usually = magnet
4/ bullish divergance on RSI (price lower low, oscillator higher low)
5/ volume breaking up through trendline from past few days; volume precedes price
Will be watching for a break up through the top of the falling wedge to around $14,000. Once a couple of candles have closed above the wedge I would expect to next test the 0.5 fib if not $15,000+ as the flat kumo would suggest. If it breaks down through 0.382 fib support next stop is $11,000 maybe $9,000.
1/ key 0.382 fib level is acting as support for the moment and should the price break through and confirm it may be a pivot.
2/ bullish falling wedge developing, also visible on daily
3/ flat kumo usually = magnet
4/ bullish divergance on RSI (price lower low, oscillator higher low)
5/ volume breaking up through trendline from past few days; volume precedes price
Will be watching for a break up through the top of the falling wedge to around $14,000. Once a couple of candles have closed above the wedge I would expect to next test the 0.5 fib if not $15,000+ as the flat kumo would suggest. If it breaks down through 0.382 fib support next stop is $11,000 maybe $9,000.
Comment:
Broke up to $14,000. Waiting for candle confirmation close.
Comment:
Failed to confirm. Still ranging for now.