FX.co ★ #Bitcoin chart analysis

Trading instrument Bitcoin - D1 chart. The overall trend here can be called neutral. The wave structure is building its order upward. The MACD indicator is in the upper buying zone above its signal line. Previously a very ambiguous situation developed. Price was squeezed between levels. When earlier it rose from the very lows it reached the area of the horizontal resistance level 65960. It moved slightly beyond it, it is clear that this is the margin of the higher-level. There was the possibility for a decline here, the level again plus the CCI indicator was ready to exit downward from the upper overbought zone. In addition on this indicator you can see a bearish convergence - a strong sell signal. On the support at the level a decent signal. Some decline occurred, but at the same time below there is a support level 63438. This is a flip level at the edge of the decline and as is known such places are very strong, thus at that time it resulted in a contradiction. I thought that the price could roughly pause at this level and a fight between buyers and sellers would unfold. Most likely in the long term Bitcoin will resume its growth. Only it has a habit of moving sideways for a very long time with a wide sweep. One can sit in longs for more than a month while it gives birth to a new directed upward movement. But it was evident that the US dollar dominated the market overall and this trend affected this instrument as well. As a result the price was pushed below the low. At the same time a bullish divergence formed on the MACD used, a very decent signal for growth. In addition as confirmation there was a reversal pattern - a falling wedge. Below a flip level 60752 was formed, the price tested its area from above taking into account the margin and tried to rise. For a very long time the price traded in ranges down below, for several weeks, not daring to develop the growth that was clearly ripening. Ultimately it shot up quite a bit over several days then retraced a little down and got stuck deadlocked. I expected that the price would strive to renew the level 82008. And as can be seen a decent rise occurred, a break above the peak took place. Only will there be development. There is a potential reversal zone beyond the peak, and a divergence on the MACD formed. A descent into the area of the broken level 82008 occurred and here already the question. There seems to be a bounce, but it's scary to buy against the divergence... News that can be noted today: 15-30 - US Core Personal Consumption Expenditures Price Index and US GDP.