BTCUSD
is bullish and here is why. On the hourly chart, we can spot a ascending triangle. We have a rising support line and a horizontal resistance/support zone on top. At first it looked like the triangle broke bearish. However, this turned out to be a false breakout and the price quickly rose to resistance. Bitcoin flirted with the resistance zone for about 60 hours before it finally broke trough. Right now it seems like Bitcoin is turning resistance into new support before it kicks off to our first target of 13k usd.
BTCUSD
is bullish and here is why. On the hourly chart, we can spot a ascending triangle. We have a rising support line and a horizontal resistance/support zone on top. At first it looked like the triangle broke bearish. However, this turned out to be a false breakout and the price quickly rose to resistance. Bitcoin flirted with the resistance zone for about 60 hours before it finally broke trough. Right now it seems like Bitcoin is turning resistance into new support before it kicks off to our first target of 13k usd.