Daily Bullish Divergence shouldn't be ignored.
Bullish Scenario
This Bullish Daily Divergence gives me confidence that we could be making a push to the upside from the orange triangle above. We could trade the breakout with a tight stop loss of 1%-2%. We seem to have been testing the 21 EMA(white) as resistance for this whole month now, it seems we might make another push to break above it. If breakout is successful, I will have take profit at around 40k where we have resistance.
Bearish Scenario
We get rejected from 21 EMA / top orange trendline, and will either have a chance to make a Higher Low which has potential to become bullish or we head down to test bottom trendline of triangle.
4 Hour Chart
BTC is currently ranging inside this descending wedge. This is what my breakout trade would look like.
1 Week Chart
We could make a push up to test 21 Weekly EMA (white) as it lines up with our resistance area of 40k.
This Bullish Daily Divergence gives me confidence that we could be making a push to the upside from the orange triangle above. We could trade the breakout with a tight stop loss of 1%-2%. We seem to have been testing the 21 EMA(white) as resistance for this whole month now, it seems we might make another push to break above it. If breakout is successful, I will have take profit at around 40k where we have resistance.
Bearish Scenario
We get rejected from 21 EMA / top orange trendline, and will either have a chance to make a Higher Low which has potential to become bullish or we head down to test bottom trendline of triangle.
4 Hour Chart
BTC is currently ranging inside this descending wedge. This is what my breakout trade would look like.
1 Week Chart
We could make a push up to test 21 Weekly EMA (white) as it lines up with our resistance area of 40k.
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