Congrats to the Bitcoin bulls as they broke bullish out of the hourly equilibrium pattern that we have been watching this morning. We are keeping in mind that news from the consensus convention is going on and bullish news could run up the price, but we do anticipate consolidation based on the charts.
Hourly Chart:
On the 4 hour chart the bulls are holding 12 and 26 exponential average support, while the same EMA's are acting as resistance on the daily chart.
4 Hour Chart:
We are anticipating more consolidation on the higher time frames before setting a new higher low.
Daily Chart: