Bitcoin: Buy intact after breaking above descending trendline
Technically the BTC has broken above the descending trend line and after that, it has also completed the to re-test its nearly trendline support zone.
As the BTC holds above the trendline support zone and heads upwards so, it is expected that the BTC has another possibility to rise again.
Omicron variation is spreading all over the world again. So, fundamentally it will also help the BTC for rising.
From the present rate, $46000 is identified as a trendline and base support zone. The next target for the present rate is the $51500 price zone and finally, the BTC may test the $60000 price zone again.
On the other hand, if the BTC falls back again to the $41500 price zone, it may continue its down trend again.
As the BTC holds above the trendline support zone and heads upwards so, it is expected that the BTC has another possibility to rise again.
Omicron variation is spreading all over the world again. So, fundamentally it will also help the BTC for rising.
From the present rate, $46000 is identified as a trendline and base support zone. The next target for the present rate is the $51500 price zone and finally, the BTC may test the $60000 price zone again.
On the other hand, if the BTC falls back again to the $41500 price zone, it may continue its down trend again.
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