Over the course of a few weeks now, BTC has formed a bearish channel. In my last BTC analysis I argued that there was a possibility that BTC would follow this bearish path downwards, potentially targeting 45k.
Luckily for us, the entry didn't hit since BTC reversed sharply and resumed its bullish approach.
After bouncing off the top resistance, it appears that BTC has finally broken through it. However, this break out has not been initiated by a large candle, so its still unsure if this break out will last. I advise to wait for a proper confirmation of the trend before going long.
Happy trading!
Luckily for us, the entry didn't hit since BTC reversed sharply and resumed its bullish approach.
After bouncing off the top resistance, it appears that BTC has finally broken through it. However, this break out has not been initiated by a large candle, so its still unsure if this break out will last. I advise to wait for a proper confirmation of the trend before going long.
Happy trading!
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