Bitcoin price is lagging below low volume areas. Huge impulse or long cumulative work is required to pile on the price. Upward direction is more likely in the long-term. 10500 - 11000 range was a source of two impulsive bounces, one in each direction. It is protected by Ichimoku cloud now. And the point of control has been established right below the current price.
If we go downwards in the short-term, we will likely never breach 10500 levels. If we go upwards, 11800 with its point of control might work as support if the upward move fails to hold higher levels. I also remind you that we have just broken off a triangle, which is a moderately high probability continuation pattern. In contrary, the break wasn't impulsive as I would expect.
Based on weekly seasonality, I believe an interesting move will take place this Monday when we get to the middle Keltner channel (which is 20 MA). 20 MA is black on my chart and in each time BTC reacted to the aforementioned range ( rectangle on the chart), there was 20 MA as well.
I believe in an upward move, but I recommend to proceed with caution with opening new positions. It is bitcoin after all.
You can also check my Tradingview https://www.tradingview.com/u/greenmask9/
Good luck!
that's quite a interesting analysis i saw today thanks for sharing
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