1) BTCUSD is forming an (very obvious on lower tfs) which it is set to breakout of tomorrow.
2) Anticipating a break from here up to the intraday S/R line ~9900 that coincides with the lower center band of the ~2 1/2 year recently generated so I will be taking profit there,
3) then rebuying on the retrace down to the current bull , coinciding with the 0.236 fib (intraday S/R) ~9300.
4) Target from there is all the way up to the current overall downtrend line ~11300 next week then another retrace back to the first S/R line ~9900.
From there if we break the downtrend line its party time.
1) 1H MACD crossing bearish in overbought territory, very healthy turnaround.
2) Impressive sell volume on the last hourly where it topped, pushing it down, if you check out the 5 minute and 15 minute charts you can see all the bearish volume is spiking and bullish is waning.
1) Price is currently forming an ascending triangle on the 15m (left)
2) and there is a possible bullish hammer on the 4H
-> if this 4H closes above the 4H 200 MA @10132 then the momentum will be confirmed to make the move all the way to the downtrend line at 11300 without a retrace.
This is appearing likely due to the on boarding of all the money that was on the sidelines waiting for a bull trend structure to develop like the one we are witnessing.