Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
Price looking good today. Out of a few possible bullish fractals that were likely to play out, looks like price found it's outcome 
The 21 Day MA and previous resistance held as support (circled purple), currently anticipating further upside to the 0.618 fib retracement level (circled red) where there is minor confluence of previous resistance.
Furthermore, price strength is currently testing the bearish divergence that developed this month. A close above would be a nice set up for further upside:
That said, a breakdown today below the Daily opening price of $49.125 would further confirm and reinforce the bearish divergence likely leading to a correction back to the 200 Day MA.
The market is otherwise still lacking volume with low volatility, so this is far from the a breakout. Price is merely continuing to grind upwards, not that this is a bad thing either.
The 21 Day MA and previous resistance held as support (circled purple), currently anticipating further upside to the 0.618 fib retracement level (circled red) where there is minor confluence of previous resistance.
Furthermore, price strength is currently testing the bearish divergence that developed this month. A close above would be a nice set up for further upside:
That said, a breakdown today below the Daily opening price of $49.125 would further confirm and reinforce the bearish divergence likely leading to a correction back to the 200 Day MA.
The market is otherwise still lacking volume with low volatility, so this is far from the a breakout. Price is merely continuing to grind upwards, not that this is a bad thing either.