BTC has moved above the resistance inside this large pennant and now the bias is bullish as long as we stay above the dotted line.
Indicators are also curving nicely up, especially on daily, so this makes me think price will push higher. The first test will be the resistance just above which may push us back inside the pennant.
This recent move was very positive for BTC as some people were quite concerned over the weekend when we nearly broke down the pennant... now we retested the dotted line as support, things look good.
Once we exit this pennant, things should get pretty exciting. Moreover the BTC Market Dominance has increased in the past day, all pointing to a possible return of BTC back into the spotlight. We've been correcting for nearly 20 days in this range, which is very good for future gains.
Let me know what you think?
Like and follow if you liked this idea!
Indicators are also curving nicely up, especially on daily, so this makes me think price will push higher. The first test will be the resistance just above which may push us back inside the pennant.
This recent move was very positive for BTC as some people were quite concerned over the weekend when we nearly broke down the pennant... now we retested the dotted line as support, things look good.
Once we exit this pennant, things should get pretty exciting. Moreover the BTC Market Dominance has increased in the past day, all pointing to a possible return of BTC back into the spotlight. We've been correcting for nearly 20 days in this range, which is very good for future gains.
Let me know what you think?
Like and follow if you liked this idea!
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