Looking for a Sign of Life in BTC
BTCUSD has been sitting near lows for the this year and the daily trend is negative, but the last few days have become more constructive. On the 2 hour chart, BTC has been able to hold the main trend (gray line) which has been difficult the last few weeks.
The Sign of Life
A move above $6600 with volume could provide the initial spark and carry BTC towards the $7200 area where it would likely run into resistance. The move towards $7200 might not be enough to change the daily trend, but will put it within range of changing the bigger trend. If the bigger trend is able to change course, it will put wind in the sails when the shorter term patterns develop and help increase the probabilities of successful trades.
Best of Luck!
The Sign of Life
A move above $6600 with volume could provide the initial spark and carry BTC towards the $7200 area where it would likely run into resistance. The move towards $7200 might not be enough to change the daily trend, but will put it within range of changing the bigger trend. If the bigger trend is able to change course, it will put wind in the sails when the shorter term patterns develop and help increase the probabilities of successful trades.
Best of Luck!
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