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#BTC Update
BTC breakout the descending triangle and retesting above it. The volume is very low in this breakout. MA50 is also acting as a resistance.
Still, the price is in a contraction phase. A move above the local resistance of $20,500 with a high volume will confirm a decent bullish rally in the market.
This chart is likely to help you make better trade decisions if it does consider upvoting it. I would also love to know your charts and views in the comment section.
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#BTC
BTC bounced after doing a successful breakout and retest of the long descending triangle. Currently, it is facing local resistance below the $20,500 level.
As BTC is trading in a range from $18,500 to $20,500 for 42days. So this is the main resistance level for bulls to break this range and a solid break above $20,500 would be the confirmation of the continuation of bullish momentum in the market.
Thank you for the detailed analysis of potential asset movements, it was very helpful. It’s very interesting to observe your reasoning on technical analysis.