Over the weekend, we saw a nice break to the topside of resistance. Today, the market is up to $337.39B. Dominance has risen with the price action and is up to 64.22%. The price of Bitcoin is at 12,300.
Price action was able to break to the top of the bull flag moving from 11,300 up to 12,300.
Bull flags indicate continuation of an upward trend, add that together with the fact the StochasticRSI is oversold and ready to cross above 20 indicating a leading confirmation of upcoming bullish price action.
In addition, the TRIX is nearing a crossover point, which would further reinforce a bullish outlook.
Last, but not least, we have the Tenkan Sen acting as support to springboard the price above the bull flag.
All of the these technical variables align pointing to continued positive price action.
Bearish: The price can't break through resistance and closes below support at 12,000.
Bullish: Price action continues it's upward trajectory and breaks through resistance at 12,500-12,900.
Bullish 60% / Bearish 40%
Price action was able to break to the top of the bull flag moving from 11,300 up to 12,300.
Bull flags indicate continuation of an upward trend, add that together with the fact the StochasticRSI is oversold and ready to cross above 20 indicating a leading confirmation of upcoming bullish price action.
In addition, the TRIX is nearing a crossover point, which would further reinforce a bullish outlook.
Last, but not least, we have the Tenkan Sen acting as support to springboard the price above the bull flag.
All of the these technical variables align pointing to continued positive price action.
Bearish: The price can't break through resistance and closes below support at 12,000.
Bullish: Price action continues it's upward trajectory and breaks through resistance at 12,500-12,900.
Bullish 60% / Bearish 40%
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