Over the Weekend Bitcoin testet the 9400 Support then rallied of it, continuing on Monday in a big Bullish move which let the price touch 10500 on some exchanges.
The Weekly Stochastic is still trending down, but the last rally managed to turn the Daily Stochastic up, We need to See were the next Daily will close and if the Stochastic Oscillator would get more Momentum to the upside.
Despite the Uprun, the lower Timeframe Oscillators are getting quite High and would need a pullback to reset themself, if 10-9,8 holds the retest of the Major descending Triangle is still in play.
If 10k Level breaks to the downside once again i will feel more comfortable letting my Shorts run, because Support gets weaker over time.
At current Time price is Trading above the Weekly 10EMA which comes in around 10k, this also gives the indication that if 10k will not hold also the retest of the 20EMA (coming in @9100-9200) on the Weekly is more likely
Daily EMA´s Also a Break of 9.8k Price would turn the Daily EMA again to the Downside probably accelerating them.
You have to be very carefully placing trades right because Bitcoin is in an Area were 500-1000 USD moves can happen quite fast and in both directions!
Please also keep in mind that Bitcoin is a traders Game with big USD-Tether Positions pushing prices in directions most don’t expect, so trade safe, have stops in place.
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