[Watch it][Short Term] BTC trying to breakout.

Falling wedge and edge of support. Short term potentially Long on a confirmed breakout.

Watch for *volume* as we had a blatant bull trap previously.
Moreover bulls need to push price over 9350$ in order to achieve something meaningful.

Avoid taking unneeded risks under support, have a TP / SL.

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Support quite stretched.
Lots of strain on it already.

Bulls should find a decent bounce soon otherwise a flashcrash may happen.
Even within next 48hrs.

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Zig-Zag.

Support did hold tonight, yet that's not enough. Bulls now NEED to breakout 9350$ for a further chance to test resistance an hope into a big pennant.

If support crumbles bears get the upper hand.

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Ok bulls should confirm this pennant.
Otherwise i'd say troublesome time ahead.

A further test of support from below 9350$ should be avoided, being extremely risky.
Have a stop placed.

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TD=9 already confirmed on daily.
Hopefully a bump up will happen within 2-3 days.

We'll see.

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Here's the bump, a couple days later:

Bulls need volume and a close over 9350$ in order to shake the market a bit.

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As a sidenote: if they somewhat manage to get a daily close OVER the upper BB limit at 9450$, that can be really interesting.

Observing.

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Nice push on volume of upper BB.

Looking good so far, but there's still the july 31th CME futures hurdle.
We'll see.

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So today is the first important confrimation point: CME futures expiration and monthly close. We'll' have to check weekly close as well on sunday.

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Let's hope in a good close monthly close today, and hopefully a weekly close over 11500$, above the upper BB limit.

It would be very bullish.

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Compare back with April '19.

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Trying to breakout triangle:

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Early to say, but we may have a diamond forming.

That's a prettty unpredictable pattern, which may hint either the start of a parabolic rise ( half staff ) or a strong pullback to the 10k range ( diamond top ).
Let's see how it develops.

If you're Long don't forget to have a TP placed.

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Here it is:

Mind that's just speculation, for now,

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And here it is, a quite sparse diamond.
Looks like a half staff, but diamonds have usually cumbersome breakouts.

So watch for volume and/or breakout of recent highs.
Don't take risks below current interim support ( see lower bound of diamond )

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OBV trying to breakout.
Watch it on WEEKLY CLOSE.

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Heh ... that's why i hate diamonds ( you know):

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For now support did hold.
Let's hope to avoid a double top here.

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Very sparse ascending truangle encompassing the diamond formation.
Slight bullish bias, but as i wrote days ago, diamonds are cumbersome, so bettere waiting for a clear breakout or a breakdown of support.

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That's why you've to be careful when diamonds are involved.

Ugly.

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Bulls should try to keep pèrice over the 10800-11000$ mark.
Anything less would mean risk of confirming a diamond top + double top.

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Hopefully BB middle line will provide support for a bounce.

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Short term scenario:

Bulls should try to confirm the ascending triangle and hence breakout resistance.
Filp of the coin: be careful on a confirmed (on daily close) loss of closest support.

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NOTE: It would desirable to have a breakout of resistance soon, as a triangle falure
and test of closest support *MAY* imply a rising wedge pattern forming.
Hence a risky scenario. We'll see.

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Zooming:

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Perfect breakout, see volume.
It's already at first resistance, let's see because 12500$ is a key level.

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Ping pong.

We have to see whether lower bound of triangle holds.
Don't take any unneeded risks, have a TP under support.

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Triangle gone, drifting towards support.
CME futures expiration on friday means likely volatility ahead.
As usual, avoid taking risks without a SL

Would like to see some sideways movement above 10500,$ in order to ignite a bounce within next few days. We have a TD count=8 already, if price is going to hold over support we may achieve a good rebound.

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Fine. TD count=9 achieved.

There's a tight descending channel ongoing, as long as support holds i'd like to see bulls doing this:

We'll see, today we have CME futures expiration, next 2-3 days will tell.

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Shaping well.

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At key support again after failed breakout of 12100$:

Watch it.

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OBV:

See retest of previous ATH.
A strong reaction from here is needed in order to confirm bull trend.

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This:

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Finally, price is testing MA20/W, which is a crucial level for short term trend: