Let's do another Overlook chart because Bitcoin has pumped, and we should see where we are now. I'll make it short and fast:
- We're back inside our uptrend regression by expanding it, which made the market have more ups and downs and even wider price ranges. But it's ok, as long as we're bullish! Since October started, we're having bullish signals and Strong Buy volumes on all platforms. Right now our Bullish run has stopped because. As you can see on the chart, we are fighting the Middle Band of our uptrend channel. That middle band performs as a dynamic resistance zone which goes higher as time goes by, so in other words, it'll move the price higher as well, if we have enough demand in the market. After getting enough power to pass the dynamic resistance, we're going to test our static resistance which is also presented on the chart. That resistance is measured by the last higher point and also the Fibonacci indicator and is also stronger than our dynamic resistance.
- And for supports, we have enough confirmed and tested support zones that can help to keep the price up in case any corrections or drops happens.
- You should also know that the higher band of our regression channel works as a resistance, and the lower band works as support. They're not any strong, and you might see noises and fake-outs when the price reaches them, but still, they're functional too.