#BTCUPDATE - 23.7.21 BULLISH DIVERGENCE IN PLAY
Continuing to look bullish on BTC. Negatives first - we are in ascending channel on the 1hr which usually means a break down is coming - but how far? Probably to about 32k wcs at
31K where there is big support sitting. We still havent comfortably broken the 20 DEMA which is my biggest concern. Positives - Big bullish divergence on the daily along coming out of the Falling wedge, whilst being oversold. All very strong reversal signals - coupled with the positive news circling BTC from every angle. The noise of the regulatory issues is being muffled now.
Personally start weighting your bags for BTC around this region as looking less and less likely a drop below 30k now. Although regulations and government CAN do that so be wary still.
My play - Long to 33k, take profit short to possibly 32.2k and then rid up to 34k. Alternatively you can just stay long to 34k for ease. I am not really bearish at all short term.
33.3k is my next major resistance.
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