Bitcoin At The Verge Of Breakout After A Long Term Resistance
Bitcoin is in the verge of breakout looking at the technical signals which is suggesting this, the crypto analyst says that the king crypto bitcoin monthly candle has broken through a major resistance. It has always been said that these rallies which we are experiencing currently are similar of the previous ones which we have experienced in the bitcoin market.
In he’s words which he has said that he notice how BTC macro downtrend breakout candles have historically had upside wicks form (yellow circles).This current monthly breakout candle looks no different.He is in the position that a new rally will be determined at the end of the month.
As he says that this coming Saturday, the BTC monthly candle will have closed above the macro downtrend to confirm a new bull market.Only a few days left and BTC is still well in the clear to perform a bullish break of the macro downtrend and monthly close above the key resistance. Short-term, some dipping in price could occur but mid- to long-term, BTC is setting up for a new macro uptrend.
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