Bitcoin just broke the bear trend and is currently increasing in value. Volumes seems to support such a breakout with trend reversion.
If we check moving averages too we can see that the 50-200EMA are crossing once again signalling a trend reversal from bear to bull. I know, the cross is not completely defined and assuming a long position is risky.
I think a possible first resistance level to test will be around 12070.
As usual, this is not a trading advice, merely my idea.
If we check moving averages too we can see that the 50-200EMA are crossing once again signalling a trend reversal from bear to bull. I know, the cross is not completely defined and assuming a long position is risky.
I think a possible first resistance level to test will be around 12070.
As usual, this is not a trading advice, merely my idea.
Note
Just a side note...as I said in my previous posts: We are in a completely different phase of the bubble than we were thinking. Fun is yet to come!Note
Well, I was wrong about the bull trend!
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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.