For the past 2 weeks price action has ranged in a clear, definitive upwards channel; recently bitcoin has extended gains breaking out of this channel to reach a new ATH. If the top trend line can get multiple confirmations of holding as support, we can anticipate the next major leg up as the rally continues. If the price breakdowns back into the channel, the next...
BTC broke out of its third descending triangle in its mid term trend, looking to push to the upper side of the channel. RSI is currently at 57, indicating strong bullish momentum but is yet to be close to any overbought reigon. This is on the hourly time frame. So with this being said, there are high probabilities of a break of 50k soon, and with enough buying...
Here we can see a repeative pattern of short term trends through falling wedges in a mid term uptrend. We saw BTCUSD test the support of this trend early this morning (15th Feb 2021). A bullish sign will be a strong bounce off of this support, however if there are multiple closes below this support (timeframe is daily) then this will indicate a bearish reversal in...
