Good morning, traders. Bitcoin has continued to consolidate as expected and, in doing so, has printed a pennant/symmetrical triangle. Based on the height of the flagpole, price should be targeting the $4250 level once price closes above the triangle's resistance. But traders should also be aware of the $4110 target based on the height of the triangle which puts it within $25 of the target based on the height of the recent local TR, as shown on the daily chart, right at the EQ of the the supply zone. That TR appears to be re-accumulation without a Spring and suggests upward movement. Sitting between the two targets is the descending diagonal ATH resistance which makes it the wild card with a close above being bullish and a close below being potentially bearish. I say potentially because in terms of the larger TR that has been printing since December, we may only see price dip toward $3600 to print an LPS before resuming the uptrend, and of course this wouldn't be bearish at all.
H4 RSI has broken through the descending wedge's resistance and is now challenging the descending channel's resistance. Daily RSI is still finding resistance at the ascending channel's EQ. Price remains above the pivots and 21 EMAs of the H1 through D3 TFs. The D3 RSI is now bullish at 52.4 as well.
Every day, we have a choice to act positively or negatively, so if you get a chance, do something decent for someone today which could be as simple as sharing a nice word with them. You just might change their day, or even their life.
Remember, you can always click on the "share" button in the lower right hand of the screen, under the chart, and then click on "Make it mine" from the popup menu in order to get a live version of the chart that you can explore on your own.
H4 RSI has broken through the descending wedge's resistance and is now challenging the descending channel's resistance. Daily RSI is still finding resistance at the ascending channel's EQ. Price remains above the pivots and 21 EMAs of the H1 through D3 TFs. The D3 RSI is now bullish at 52.4 as well.
Every day, we have a choice to act positively or negatively, so if you get a chance, do something decent for someone today which could be as simple as sharing a nice word with them. You just might change their day, or even their life.
Remember, you can always click on the "share" button in the lower right hand of the screen, under the chart, and then click on "Make it mine" from the popup menu in order to get a live version of the chart that you can explore on your own.
