Hi All, Crypto Sludge here.
After a short retrace, BTC has now returned into my channel.
There is still plenty of uncertainty in this movement, and the bears are putting some pressure on the price, clearly visible in these candle patterns.
There is however a strong bullish sentiment, very little FUD and a strong recovery of the traditional markets, so we are starting to see the first signs of FOMO by sellers selling the bottom.
Stoch RSI on both the 1H and 4H have plenty of room for an upper movement, it's is bit difficult to see targets on the lower time frames, the 1D is bit more clear for potential resistance points:
11250$ - the TD make trend line, is the 1st target to break and retrace from (will take 1st profits here).
12000$ +- 250$ - bottom of the daily cloud + Ascending triangle breakout range this will be a major resistance but will be also be a major FOMO trigger if broken.
14550$ - Top of the cloud - Bull market returns.
< 10000$ have now became my stop loss.
Trade ON!
Crypto Sludge.
