We can see we are at the end of a triangle that formed on a support that goes back months from here. We can bounce to 8700/8900 USD or we can find support at 7400/7300 USD, either way trade this short term operation as soon as you see wich direction the breakout is going.
We can see a lot of thing going on in this moment.
We are in a tightening range that will soon breakout, the ema ribbon is coming down to the price, the volume is declining and the big trend line that started 1 year ago is very close.
I can see we are probably going to breakout to 5000$ or less, or 2500$ or something more.
You can see there is a bull flag in formation, the expected breakkout is where i drawed the cirle, let's see what will happen in the next 2 days or so.
As you can see the RSI is as low as we ever went, and also the price is on the long term trend line in the logarithmic chart. Also the seasonality i have indicated with red and green lines says we are going to see an upwards trend in a few days.
As we can see in the picture there is a compression of the market and we can expect a little upwards explosion or downwards about at midnight or so, prepare for it!
