$BTC【Bitcoin Daily MACD Top Divergence Is About to Be Fixed; the Parallel Range Structure Will Ultimately Break Through】
Bitcoin spot price is around 85,000. Looking back at this week, the movement of BTC has been relatively large, oscillating between 82,800–85,000–87,000.
Figure 1: You can clearly see the parallel range structure. Around 82,800 at the bottom, there is a previous high and a very strong 0.382 Fibonacci support. Several tests have failed to break down effectively. On the upside, there is resistance from 85,000–200 near the midline, and a strong resistance at the upper band around 87,000–500.
Then with Figure 2: On the daily timeframe, the MACD shows a top divergence. However, BTC is still trading quite strongly. It hasn’t pulled back because of the divergence; instead, it has been moving sideways to upward. The fix will come soon.
So overall, the outlook remains bullish: next week, BTC should continue breaking upward through the range’s upper band to the 89,000–90,000 target. For the two possible scenarios: either it retraces to the lower band 82,500–82,800 and then breaks upward again, or it breaks up directly near the midline.
Follow Huanggē and lock in the market’s direction.
$ETH $QNT
Bitcoin spot price is around 85,000. Looking back at this week, the movement of BTC has been relatively large, oscillating between 82,800–85,000–87,000.
Figure 1: You can clearly see the parallel range structure. Around 82,800 at the bottom, there is a previous high and a very strong 0.382 Fibonacci support. Several tests have failed to break down effectively. On the upside, there is resistance from 85,000–200 near the midline, and a strong resistance at the upper band around 87,000–500.
Then with Figure 2: On the daily timeframe, the MACD shows a top divergence. However, BTC is still trading quite strongly. It hasn’t pulled back because of the divergence; instead, it has been moving sideways to upward. The fix will come soon.
So overall, the outlook remains bullish: next week, BTC should continue breaking upward through the range’s upper band to the 89,000–90,000 target. For the two possible scenarios: either it retraces to the lower band 82,500–82,800 and then breaks upward again, or it breaks up directly near the midline.
Follow Huanggē and lock in the market’s direction.
$ETH $QNT
