1. Trend Strength:
• The “Trend Strength” indicator displays “Moderately Strong.” This suggests a continuation of bullish momentum but possibly at a slower pace or with a consolidation phase.
2. Price Action:
• Bitcoin’s price is in an upward trajectory, breaking previous resistance levels.
• The highlighted “Point of Interest” indicates a potential support zone (around $84,000 - $86,000). If the price pulls back, it may test this level before resuming an upward trend.
3. Momentum Indicators:
• The lower indicator shows divergences and strength metrics, which appear bullish for higher time frames (4H, 12H, 1D), supporting upward momentum.
• However, the short-term metrics (e.g., 5M, 1H) suggest some overextension, potentially leading to a minor pullback or sideways consolidation.
4. Bias for Monday:
• Daily Bias: Bullish with possible consolidation early in the session.
• Levels to Watch:
• Resistance: $93,000 - $94,000 (near the chart’s “High” label).
• Support: $86,000 - $84,000 (Point of Interest zone).
Monday Forecast:
• Expect a short-term pullback or sideways movement near the $90,000 level, followed by another bullish push if buyers maintain control. The medium-term trend remains upward unless a significant breakdown occurs below the $84,000 support.