BTC on the hourly chart looks promising. We have a falling wedge which is a bullish pattern.
MACD is looking bullish and RSI is showing a nice upward trend.
If there is a breakout to the upward direction, I would expect the price to test the lower upward trend line (Red) around the 0.618 fib levels which can take the price to $8.2k. If that is broken then high chances are that we might get to $9k. However if the price does not manage to break upwards, we might see a drop to $7.7k. However the first scenario looks more likely.
We are still however waiting for a breakout to determine where the price will head to.
MACD is looking bullish and RSI is showing a nice upward trend.
If there is a breakout to the upward direction, I would expect the price to test the lower upward trend line (Red) around the 0.618 fib levels which can take the price to $8.2k. If that is broken then high chances are that we might get to $9k. However if the price does not manage to break upwards, we might see a drop to $7.7k. However the first scenario looks more likely.
We are still however waiting for a breakout to determine where the price will head to.