BitcoinBravado

BTC Downtrend Breakout

Long
BITMEX:XBTUSD.P   Bitcoin
After 124 days, BTC finally broke out of the log downtrend. A key move in an effort to head back to $10k. This bounce from around $6.5k is stronger than the last because of the prolonged consolidation that occurred leading up to the run. If Bitcoin finds resistance around $9.3k we'd expect to see if retest the downtrend before bouncing again. Strong resistance at $10k makes sense, psychologically it should be hard to break.

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