Quick Bitcoin Daily Update inc 4 Hour - SMA and channelBitcoin all time history indexINDEX:BTCUSDOrriginal Main chart is a Daily and includes the 9 SMA ( Orange ) and the 14 SMA ( Green ) The Risig channel has the RED line as 0 (Zero ) and goes to 1 on the Orange line The parralle lines are in 0.25 increments, starting at -0.25 Today we see a Sharp move higher from PA as it breaks above the + 0.25 line and is now fighting to break over the 14 SMA Should PA hold above these 2 SMA, VERY Bullish Should PA hold this level, we may see PA test that 0.25 line as support and then look to the 0.618 Fib line at around 84500 In the longer term, the upper Orange 1 trendline could be reached at around 90K if the move is as sharp as previous rises from lower line of channel. Daily MACD Here we see the continued bounce of the Yellow MACD line and the Histogram continuing to reduce in size with white Bars. The decrease of Bearish momentum. Daikt VWAP RSI There has been little reaction from this and so some caution maybe excercised about this push higher by PA Keep an eye on this On the shorter term, The 4 hour chart is interesting Here we saw PA push up strong and Bump into the VRVP Point of control ( Red Dots ) We can see how previously, PA has been rejected in this Range, up to around 84K We have to wait and see if we hold this area or not. 4 Hour MACD This shows how strong that move was and the Histogram Bar is Tall, showing Bullish momentum. But we should be cautious, this may just be a Short Squeze. We need to wait and See where PA goes next. 4 Hour RSI RSI is FALLING ! The Relative Strength Index is weakening. We Could see a Drop in PA as a result, This shows Sellers taking over maybe In the short Term, we do see warning signs as the buying momentum Falls and yet price rises. Sellers will take profit This is surely a Short squeeze, hitting Leveraged positions again. Holders on SPOT Trades just lean back and have a beer As mentioned, we need to see where PA goes But longer term, See how we are in Lower side of a rising channel and that channel remains the trajectory until it does not. Should PA retrace from todays push, thats fine, Support is below us and we have a long way above. WE jave just hd a small short Squeeze, At time of writing that $75.8 MILLION wiped out. Should PA now fall back sgarply, that will be a Long Squeeze...... Just Hold SPOY and wait,,NO LOSSES