Looking at BTCUSD here we see momentum dying out on this grind up as noted by the divergence in both MACD and RSI on the 4hr. I personally don’t think this move is over, as we didn’t see a retest of the May breakdown at 25374, and have yet to see climatic volume and price action that would normally indicate the last hurrah. Also looking on the Daily (see below), the RSI has yet to enter overbought territory, a further clue that perhaps we still have higher to climb.
I am looking for a possible pullback to the resistance wall from 20800 - 22500 region, which would be a fib retrace from 0.382 - 0.618, before having another run for the top.
I am looking for a possible pullback to the resistance wall from 20800 - 22500 region, which would be a fib retrace from 0.382 - 0.618, before having another run for the top.