BTC 6 months Bearish Trend line Dissolved
BTC just broke the 6 months old strong bearish trend line with the new $8,000 price on 1 week chart.
We have our next resistance in between $8731- $8800. Followed by the psychological resistance price of $10,000
MACD almost crossing up on Signal on 1 week as well, a very strong bullish indicator. The last cross over on 1 week chart was executed in 2016: 2 years ago, and price rallied up to a new ATH in 2017. This could mark the beginning of new bullish market perhaps to another new ATH.
Also, the Histogram is declining, showing possible flip to the upside; already the first bullish histogram bar is on the upper side and this means a lot to the bulls on a long time frame chart.
Volume looking very strong as well to support this bounce to a higher price, SHORTS are going to be scared of opening new position right now, as all road leads to the higher price with a LONG position.
Viva BTC!
We have our next resistance in between $8731- $8800. Followed by the psychological resistance price of $10,000
MACD almost crossing up on Signal on 1 week as well, a very strong bullish indicator. The last cross over on 1 week chart was executed in 2016: 2 years ago, and price rallied up to a new ATH in 2017. This could mark the beginning of new bullish market perhaps to another new ATH.
Also, the Histogram is declining, showing possible flip to the upside; already the first bullish histogram bar is on the upper side and this means a lot to the bulls on a long time frame chart.
Volume looking very strong as well to support this bounce to a higher price, SHORTS are going to be scared of opening new position right now, as all road leads to the higher price with a LONG position.
Viva BTC!
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