The moment of truth is upon us. Our explosive uptrend of exactly one year is being tested here and not far off from being tested by the 3 month long downtrend that's plagued this market. If the bears win, we fall onto a much longer and much more modest upward trend that could set BTC and crypto back quite a ways. If the bulls win, we aren't in the clear yet as we'll have to test the dreaded 11,700 resistance line once again. If btc can manage to break it, get your champagne ready! My gut says short but my heart says long which is why I'm neutral here.
Side Note: As you'll also notice, we are forming an upward triangle which could mean if 11,700 stifles us again (if we even get there), it's a very bearish sentiment. Hodl tight, friends!
Side Note: As you'll also notice, we are forming an upward triangle which could mean if 11,700 stifles us again (if we even get there), it's a very bearish sentiment. Hodl tight, friends!