4-Hours chart
The relative strength index (RSI) is at the highest level since April 24, meaning the cryptocurrency is at its most overbought in nearly three months.
Hence, a break above $6800 might remain stable for another 24-hours or could be short-lived for the time being.
• BTC's corrective rally has gathered pace and prices could rise to $6,838 (neckline resistance) in the next day or two.
• A close (as per UTC) above $6,800 would confirm a short-term bearish-to-bullish trend change and would open the doors to $7,920 (target as per the measured height method).
• Only a daily close below $6,400 (20-day MA) would reach at the odds of Bitcoin rising to $6,838.
• A break below $5,755 (June 24 low) would revive the bearish view.
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