BTCUSD
was able to break out of the descending channel in a convincing way, only to be halted by the 31k resistance line. BTC is currently building up more momentum to break the 31k resistance line but will probably have to do a little bit of retracing.
Either BTC goes full beastmode and breaks 31K, with a valid retest so we are sure resistance was flipped into support.
Or, BTC will retrace back for a retest of the upper descending channel line or the 50MA trendline.
Both scenarios are bullish for BTC.
Alternatively, in a bearish scenario, BTC will drop back into the descending channel, failling to find support on the upper line or 50MA (making the recent breakout invalid).
