BitcoinCensus

Bitcoin is Still Looking Bullish

Long
COINBASE:BTCUSD   Bitcoin / U.S. Dollar
As you can see, there was a bullish breakout when the price broke free from the descending resistance line. This is at least the second time we have seen this pattern since the 2019 ATH (see link below). The first time the price broke this falling resistance line $BTC rose from right around $10,600 before topping out right around $12,000. It then formed the new descending resistance line which we just broke through.

I am not a permabull or permabear. Multiple data points/patterns/indicators are pointing bullish .

Comments

Amazing content, keep it up mate :)
+1 Reply
BitcoinCensus DACapitalTrading
@DACapitalTrading, thanks. BTC broke through support which explains the sudden fall. It moved through multiple support in fact (see attached chart). Seems to have found a bottom trend line. I will have to chart that at some point.
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the market is always teaching us, thanks for sharing your idea, i also give a lot of valuable content go check it out i'm sure you would like it
+1 Reply
BitcoinCensus transparent-fx
@transparent-fx, will do. And thanks for the comment.
Reply
Here is what I'm watching on the 5-minute. Looking bullish there as well.
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Link to chart mentioned above
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