#BTCLIVE 05.11
TLDR:
Short-Term (-1 Day)
80:20- Bullish:Bearish
Long-Term (1 Month+)
80:20 - Bullish:Bearish
Technicals
Bullish flag forming after gains to $21.4k overnight.
Breakout probably not imminent however as we are heading overbought on 4r and Daily.
This could see us continue the flag formation down to support at $21.1k before taking the next leg up.
On the daily we also have the 20EMA crossing the 50EMA confirming a bullish uptrend in BTC price.
Volume required for the next leg most likely to come in Sunday evening / Monday morning as Asian markets re-open.
Volume on Friday increased 53% (coinmarketcap) which drove the Friday gains.
TLDR:
Short-Term (-1 Day)
80:20- Bullish:Bearish
Long-Term (1 Month+)
80:20 - Bullish:Bearish
Technicals
Bullish flag forming after gains to $21.4k overnight.
Breakout probably not imminent however as we are heading overbought on 4r and Daily.
This could see us continue the flag formation down to support at $21.1k before taking the next leg up.
On the daily we also have the 20EMA crossing the 50EMA confirming a bullish uptrend in BTC price.
Volume required for the next leg most likely to come in Sunday evening / Monday morning as Asian markets re-open.
Volume on Friday increased 53% (coinmarketcap) which drove the Friday gains.