Bitcoin Floating Above (Previous) Macro Resistance

Here we are looking at BTC/USD on the Daily TF.

Let's begin by noting the macro downwards sloping trend-line (green)... As you can see, this downwards sloping trend line acted as strong resistance the majority of the bear market. Recently, BTC broke out from this trend line. As you can see, BTC had an initial re-test of that trendline, and since has been floating above it.

So what can we expect?

Currently, BTC has been slowly moving sideways, and has established local support (as marked by the white line) on the chart. If BTC breaks this line, we can expect BTC to re-test the downwards sloping trendline again...

As always, this is not intended as financial advice. This is purely educational and intended to spark discussion pertaining to this idea.

Let me know in the comments what your thoughts are, as well as any other cryptos you'd like me to take a look at!

Cheers!