BITCOIN Looking To Break $6,800 and EMA Resistances

We're back to the all too familiar $6,800 resistance level. In addition, we're also seeing resistance coming from the downward Exponential Moving Average (EMA) levels. We've seen a pull back so far from the 50 and would love to see a break and close above the 55 (in addition to 6,800).

Daily volume is still on the overall increase which is an extremely strong sign for this move. Increasing bull volume is one of the things we always look for in a strong move to the upside, so this definitely is checking that box.

The bull break from inside bars and the nice candle we saw yesterday are very good signs. Still though, we haven't seen a break of $6,800 and it's been a relevant for over a month.

If it does hold up again, I would expect an upward wedge pattern to occur. Eventually, the bulls should be able to weaken and smash this wall if they really are strong enough. If there's a pullback, we'd need to see this trend line supportive. If it breaks and we get a lower low, we are looking at a longer pullback once again. However, I think this move is quite a bit stronger than we've seen.

For now, the bulls are still in control and we're looking at a break of $6,800.