BTC bullish breakout at $12,391 ?
On my BTC chart, based on the last 4 weeks, we can see that both the red horizontal Resistence line and the green trend line meet at approximately $12,319.
Now, if the price breaks out over the Resistence ($12,391 approx), we could see the clearest indication yet of the start of a quality bullish movement.
The fact that the price is following the trend line (at the moment) indicates that we could be in the midst of a bullish flag signal.
Obviously, as a bull, I do not want to see the price fall below the trend line. If it does, then we will have to keep waiting for a surge in price, but in the meantime, we could see BTC fall below $10,000 (or lower still).
So for me, breaking resistance at $12,391 (or thereabouts) is key to bullish revolution of BTC - if it fails, then we go back down to $10,000 at least.
Now, if the price breaks out over the Resistence ($12,391 approx), we could see the clearest indication yet of the start of a quality bullish movement.
The fact that the price is following the trend line (at the moment) indicates that we could be in the midst of a bullish flag signal.
Obviously, as a bull, I do not want to see the price fall below the trend line. If it does, then we will have to keep waiting for a surge in price, but in the meantime, we could see BTC fall below $10,000 (or lower still).
So for me, breaking resistance at $12,391 (or thereabouts) is key to bullish revolution of BTC - if it fails, then we go back down to $10,000 at least.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.