A lot of confluence on the charts on this one. As usual do your own research but from my analysis:
1. PA is correcting itself and is moving up.
2. Above the cloud with a prediction of resumption
3. Sitting nicely on a bunched moving average pattern.
4. This is the second CAD buy trade I've identified showing some strength in the Loonie
I shall be taking this...
Today, We saw huge dropdown occured by bearish Rising Wedge pattern. BTC dropped down, below EMA21 and EMA50 again. It can be seen that these two trend lines are a strong opponents for BTC. We saw some false attempts to break EMAs trend lines, but the true breakthrough still did not happen.
Today's goal is to close above $7550, above EMA trend lines. Then...
After the rejection at 10k I believe we could be heading back to the 7k range and finish filling out the triangle. Price is holding above the 12 hour cloud so there's also the possibility price consolidates over the cloud and then breaks downward through the kumo twist and down to 7k. Depending on if we enter the 12 hour cloud I might take a short position. If...
