Is BTC ready for a push higher ?
A strong move lately from BTC which is about to break a descending triangle pattern but still with some significant resistances up to around 50k before I would call it a return to bull trend.
How things are looking for BTC ? The consolidation under resistance looks strong, however the rsi and volume is decreasing. What is more important the daily volume looks very weak.
I think the most plausible scenarios are either a retracement now or a fakeout and retracement.
If BTC fails to break the resistance but no strong dump follows then it should be a good scenario for a push higher - if some volume appears.
On the other hand if we will have a strong retracement in price now, then 40k resistance may finally succumb to selling pressure.
How things are looking for BTC ? The consolidation under resistance looks strong, however the rsi and volume is decreasing. What is more important the daily volume looks very weak.
I think the most plausible scenarios are either a retracement now or a fakeout and retracement.
If BTC fails to break the resistance but no strong dump follows then it should be a good scenario for a push higher - if some volume appears.
On the other hand if we will have a strong retracement in price now, then 40k resistance may finally succumb to selling pressure.
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