What we are seeing right now is probably the best thing we could see for btc.
Healthy price action comes with corrections, as these corrections provide the nessecary support for the coin to continue higher.
And we can see this on the chart with our indicators/support zones.
1) We broke the local highs set for the past couple months. Great sign. Also a strong area of support now that its flipped from resistance.
2) The ema spread is wide and offering us support currently.
3) We also have an uptrending zone of support holding us up.
If we invalidate all three of the above this could likely be another fakeout, but in my opinion I think the likelihood of this happening is low.
This is not financial advice and always do your own research before entering the market.
Healthy price action comes with corrections, as these corrections provide the nessecary support for the coin to continue higher.
And we can see this on the chart with our indicators/support zones.
1) We broke the local highs set for the past couple months. Great sign. Also a strong area of support now that its flipped from resistance.
2) The ema spread is wide and offering us support currently.
3) We also have an uptrending zone of support holding us up.
If we invalidate all three of the above this could likely be another fakeout, but in my opinion I think the likelihood of this happening is low.
This is not financial advice and always do your own research before entering the market.
