BTC broken out of downtrend resistance
Updated
BTC has been broken out of its downtrend resistance as buyer pressure steps in at around 54k. However BTC is facing rejection from its previous ascending wedge support turns resistance at around 56k. If BTC manage to pass through 56k resistance, we will see BTC to test the ascending wedge resistance at 59k. If not, we are looking at a further pullback.
Trade closed: target reached
BTC has broke through its downtrend support turns resistance as expected.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.