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Let's get to the chart! Bitcoin got rejected from the channel resistance and broke below it. Currently, the price hovering right above the 41K area. As per this chart, the 39.5k to 40.5k is the most important area for BTC to long. Also, it needs to break and close above the 42.6k area in order to pump all the way to 45k+ resistance. If you want to long BTC, the green area is where you might wanna put your buy orders. Multiple MA's support is just inside the green zone. (Not financial advice).
Conclusion:- BTC is bullish above 38k and IMO it is a retest before the next leg up. Looking at other major charts BTC looks bullish atm. I won't be bearish as long as it holds the 38k level in HTF.
INVALIDATION:- Close below 38k.
What do you think? Do let me know and hit the like button if you find this chart helpful.
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BTCUSDT 12 Hour:- All good so far. Nice breakout. Need to keep an eye to see if this pump sustains till daily close.