BTC was finally able to break above the Tenkan Sen and make a B-line for the top of the cloud. On first look, it seemed like we might have conquered this pesky level and be done with it but overnight we shot back down sharply. Price ended up finding support at the once resistance Tenkan Sen and it continues to trend higher but a break of this level is a must or else we could see a revisit of the bottom.
On the bright side, the Chikou Span has remained bullish and didn't end up crossing over bearish and continues to trend upwards so at the moment, we are still cautiously bullish BUT the next few hours will be crucial.
Will have updates later on in the day!
Thanks guys!
On the bright side, the Chikou Span has remained bullish and didn't end up crossing over bearish and continues to trend upwards so at the moment, we are still cautiously bullish BUT the next few hours will be crucial.
Will have updates later on in the day!
Thanks guys!