Taking apart the daily chart on #BTC 💰
Let me remind you the reason why we are seeing the growth that started on April 9 📈. First, a bullish wedge formation was formed. Secondly, its upper boundary was broken after the formation of a local "squeeze" at 4 o'clock and a "bullish divergence" on RSI.
The important point is the recent break and consolidation above the ~$92,000 📈 level. The point is that it is one of the three levels of the past consolidation. It acted as its lower boundary. Above that is the ~$98,000 midline, which now coincides with the "point of control" line, and resistance at ~$106,000 at the global high.
After consolidating above the lowest level, price has returned to the old consolidation 🪧. This was finally confirmed yesterday when the coin touched ~$98,000 from below. That said, the RSI is already treading close to the overbought zone ❗️.
Based on everything I see on the daily, I expect a POSITIVE DEVELOPMENT OF EVENTS. The main upside target is ~$106,000 🎯. The movement to it can be impulsive from the current levels, but taking into account the slight overheating of the market, a slight consolidation between ~$92,000 and ~$98,000 is likely at first, and then the growth.$BTC