Bitcoin | Looks Bullish But Bulls Need More Power..!!

BTC/USD (Bitcoin)

Let's take a Look in Bigger (3d) Timeframe Chart & At the End we'll discuss Weekly Chart as well.

First of All, Bitcoin Has been Moving inside the descending channel Pattern since 24th June Yearly top.

Now According to Pattern, Bottomed out & We're Waiting For Breakout. For Breakout, Bulls Need More Power & Strength,

Yesterday BTCUSD Broke the Dotted Descending Channel With Strong Buying Volume & Now Moving Towards EMA21 in 3D Chart.

If EMA21 Resistance Broken, Next Target Will be 7800-8000 Key Resistance Level, (That's the Breakout Region As well)

Major Indicators (MACD & RSI) Both Are Turning Bullish, Volume is Decreasing Since 24th June But Now Bulls Need Strong Volume For Channel Breakout.

Keep in mind, We're Still inside the Descending Channel (Downtrend) & Once 8k - 8.2k Resistance Broken Then we'll be back in Uptrend..( BTC Bullrun)



Now let's Take a Look on Weekly Chart.!!

Today is the First New Year Weekly Closing, According to Weekly Chart We're Moving inside the Bullish Flag Pattern, I'm Expecting Flag Breakout in Couple of Weeks.

Moving inside the EMA50 & EMA100, Once EMA50 Broken,Chances of Flag Breakout will increase.



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