Bitcoin took support at the neckline of the head and shoulder pattern and now is back to the former resistance levels from where it fell. This is a key pivot level and any break above this will open up a substantial upside for the crypto currency. We have also been getting a good rally in the equities and is there now a case when the riskier assets are being favored? There is the powell testimony today and that will move the counter for sure. But for now and from a technical perspective this rally on the daily chart means the uptrend is intact and that we are more likely to get a breakout than get a breakdown from here on. So wait for any break above the level and then go long.
評論:
Broken above the key level. Interesting to see what happens now. We can get a sharp rally in the crypto currency now.