We have been watching BTC as of late and the chart has met all of our bullish criteria. Accumulation and “buying the dip” was the right move for this asset. The excitement continues! Let’s hop onto the chart.
So here we can see that we have broken an downward sloping trend line that has been in play for months now. When something like this breaks, we tend to take notice. With the sloping resistance now broken, we need to hold that level and create a higher low for full bullish momentum. There is lots or resistance up ahead, but we remain bullish until proven otherwise. Also we have the MACD crossing on the 3 day chart. This is important, as the MACD is classified as a trending indicator. So we very well could be seeing the start of a new bullish trend.
Happy Trading!
So here we can see that we have broken an downward sloping trend line that has been in play for months now. When something like this breaks, we tend to take notice. With the sloping resistance now broken, we need to hold that level and create a higher low for full bullish momentum. There is lots or resistance up ahead, but we remain bullish until proven otherwise. Also we have the MACD crossing on the 3 day chart. This is important, as the MACD is classified as a trending indicator. So we very well could be seeing the start of a new bullish trend.
Happy Trading!