BTC - Resistance Becomes Support - Bullish Sign
Hey, folks. The $38,000 area had been resistance for BTC for the past three weeks (red dots), as it couldn't break above it.
But recently, that same level has become support (yellow dots). This is generally a bullish sign. It means the obstacle has been overcome, and is now lending support.
Also, this same $38,000 level is on the rising trend line (blue), which means BTC has a "double support" here. We should see a nice upward climb from here, and a continuation of the rising trend (blue).
But recently, that same level has become support (yellow dots). This is generally a bullish sign. It means the obstacle has been overcome, and is now lending support.
Also, this same $38,000 level is on the rising trend line (blue), which means BTC has a "double support" here. We should see a nice upward climb from here, and a continuation of the rising trend (blue).
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