BTC/USD - got out of down channel to build an upwards channel?

15 ביולי 2018

Interestingly we went up to reach the tip of the blue arrow i drew following the last dump (while the more likely scenario to me was the orange one downwards), which goes to the 6350 level from which we dropped earlier on. There have been quite intense bear-bull fights with strong wicks on the 1H chart. On the 4H, MACD has a nice movement upwards, with some room up still. The 6350-6850 zone we're in is highly congested considering the moves the past 2 weeks, giving no clear target level in between (to me at least - or rather, there are 'levels' everywhere, between previous support/resistance and fib levels!). Volume is low so there is always risk for sudden pump/dump. An oblique support line has formed and it will be important for bulls to keep it going.