As you can tell from the chart above we have a confirmed Hidden Bullish Divergence on both RSI & Stoch RSI on the 4H chart for BTCUSD as indicated by both indicators breaking above the yellow horizontal lines (circled in pink).
Major support level at 6700-6840 with fib confluence, followed by a diagonal support trend line which we have stayed above for over a month.
The price, which at the present time seems to have created a double top, needs to brake above $7153.6 to make a higher high and signal a potential change of the bearish trend.
12 EMA (in red) which should serve as a good support is also starting to curve up and is tightening the gap with the 26EMA (in green).
***BTC appears to be pushing for a break of the 7153.6 level as I am writing this with increasing volume. A breakout to the upside could be imminent. Daily close above $7350 would indicate a strong buyer presence***
--- NOT FINANCIAL ADVICE ---- ALWAYS DO YOUR OWN RESEARCH --- JUST MY OPINION ---
Major support level at 6700-6840 with fib confluence, followed by a diagonal support trend line which we have stayed above for over a month.
The price, which at the present time seems to have created a double top, needs to brake above $7153.6 to make a higher high and signal a potential change of the bearish trend.
12 EMA (in red) which should serve as a good support is also starting to curve up and is tightening the gap with the 26EMA (in green).
***BTC appears to be pushing for a break of the 7153.6 level as I am writing this with increasing volume. A breakout to the upside could be imminent. Daily close above $7350 would indicate a strong buyer presence***
--- NOT FINANCIAL ADVICE ---- ALWAYS DO YOUR OWN RESEARCH --- JUST MY OPINION ---