After a break and successful retest of the trendsurfer trendline, BTC is back in bullish bias territory, heading towards major resistance at around 48k.
There is strong support at around 41-42k, which is due for a retest in my opinion.
I do think that we will see a break upwards from the 48k resistance sometime soon, however, I don't think that after 3 months of retracement, we will see an immediate resumption of the trend and break of the ATH.
Most likely scenario to me is a slow grind upwards with many retests of lower support levels.
Cheers,
MM
There is strong support at around 41-42k, which is due for a retest in my opinion.
I do think that we will see a break upwards from the 48k resistance sometime soon, however, I don't think that after 3 months of retracement, we will see an immediate resumption of the trend and break of the ATH.
Most likely scenario to me is a slow grind upwards with many retests of lower support levels.
Cheers,
MM
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