A number of publications are claiming that BTC is "moving up" or "setting new highs". Unless they are referring to very small time frames, I don't see that taking place. I see it coming up to a resistance line/trend that goes back to the descending triangle. This trend-line was relevant to the descending triangle and I would argue not so much to current price action. Still, it is worth noting it. Also worth noting is the increased average volume. Are the last few months a bottoming pattern? good question. I give it a 50/50 chance.
Note
when I posted this chart it was still within the downtrend... It has now moved above it! reclaimed the 200MA and its very clearly bull-flagging ... with the flag leaning up. Odds have improved greatly for a temporary run!
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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.