Like a little ray of sunshine after a brutal storm, BTC has finally broken local resistance. However, there's still a major fight ahead. BTC's next task is to break above two massive converging trendlines as well as heavy resistance from overhead EMAs. The recent bullish divergence on the daily chart, as well as seller exhaustion after 2 months of heavy bearish sentiment, lends strength to the bulls' case, but will it be enough for a full reversal here? I think we'll see bullish action in the short-term, perhaps for a week or two, but more pain might still be in the forecast.
Good Luck.
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Good Luck.
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These are my personal views and not financial advice. Please do your own research before investing.
I'd love to hear your thoughts, ideas and feedback. Feel free to Comment and I'll try and get back to you quickly.
If you appreciated this analysis, consider Liking or Following. Thanks!
