Well it's official Bitcoin finally broke out of the downtrend.
Updated
BTC or XBT (whatever it is) finally broke out of the down trend. For the first time since June 2019, it finally achieved a higher high (not ATH, but trend based HH).
Does this mean we are in an uptrend? No... we would need to establish a new Higher Low, and then an new Higher High for that to be confirmed.
But at least it means it is no longer in an official down trend currently.
Does this mean we are in an uptrend? No... we would need to establish a new Higher Low, and then an new Higher High for that to be confirmed.
But at least it means it is no longer in an official down trend currently.
Note
Note
Well holy fucking shit, I expected it to come down more, but we have now officially established a new higher low, and new higher high on the weekly. So technically speaking BTC has re-entered an uptrend.
If we get below 10911 though, the uptrend will be invalidated.
Note
Correction, we haven't established a new higher high (that won't occur until the weekly bar is closed), but we did achieve it.
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