It is being supported by the daily 200ema and the 4hrs 200ema is resistance, It is forming an ascending triangle and breakout is not far in time.
One can see that the Gann trendline in green has provided perfect support.
It is clear now that we have been in correction since the mega pump from 7.4k which now evidently was the bottom.
There is still the possibility of a drop 8.5k. But in general BTC will be in an upward trend to 12.5k, sooner or later.
Wait for the breakout up or down. In my opinion, up is now more likely but BTC will show sluggishness while Alts fly.
One can see that the Gann trendline in green has provided perfect support.
It is clear now that we have been in correction since the mega pump from 7.4k which now evidently was the bottom.
There is still the possibility of a drop 8.5k. But in general BTC will be in an upward trend to 12.5k, sooner or later.
Wait for the breakout up or down. In my opinion, up is now more likely but BTC will show sluggishness while Alts fly.
