BTC/USD had finally broke out the long term downtrend line since 5 Jul and closes at price of 9600. This indicates more bullish players are coming in to push the price further up, potentially to price of 10297.
Note that price found its support at 9010 at Oct 26, showing more buyers are willing to buy at higher price to keep the bullish momentum going - higher low and higher high formed
I would like to see the following price action setup(s) to confirm a higher probability of continuous uptrend and entry:
1. To see a continuous gradual form of Higher High and Higher Low forming and eventually breaking out the parallel channel trend- indicate buyers are willing to purchase at higher price, which forms the higher low
Overview
Remain bullish as price is still showing signs of strength in going upwards.
Feel free to Share your thoughts, ideas about the market under the chart below.
Please do Like it if you agree with this analysis. This will be the best feedback and encouragement for me!
Best Regards & Good trading!
Leo_X
Note that price found its support at 9010 at Oct 26, showing more buyers are willing to buy at higher price to keep the bullish momentum going - higher low and higher high formed
I would like to see the following price action setup(s) to confirm a higher probability of continuous uptrend and entry:
1. To see a continuous gradual form of Higher High and Higher Low forming and eventually breaking out the parallel channel trend- indicate buyers are willing to purchase at higher price, which forms the higher low
Overview
Remain bullish as price is still showing signs of strength in going upwards.
Feel free to Share your thoughts, ideas about the market under the chart below.
Please do Like it if you agree with this analysis. This will be the best feedback and encouragement for me!
Best Regards & Good trading!
Leo_X