Price has already broken out from this huge triangle in the higher degree. This action once again giving a huge momentum for the bulls to bring the price to higher zone. All the stimulus news from Biden has already brought a new favor from the market's stakeholder to expect a changes in policy that can cause a higher price claim of bitcoin and cryptocurrency.
Now, we're back to the technical analysis. There won't be much changing structure in this market condition. But, the most important thing is that the price has already broken out from this long awaiting consolidation structure. Not just that, the price is now forming a huge green candle temporarily. On the other hand, we must anticipate the golden pocket zone which is the area where the bitcoin is trending right now. No matter on what structure, the golden pocket zone must be the huge resistance zone for the price and price must respect this zone as a strong and major resistance. We might see potential of the price retesting previous broken resistance as support ($11189) to complete the phase 2 of break out strategy before claiming higher to test the .786 and the interim swing high as the next possible resistance.
With the bulls come in this condition, we know that a huge movement will occur later in the future. We might see potential bull rally in the short, medium and long term. I'd like to look at the potential of the next mark up phase that could occur in the most of coins.
Now, we're back to the technical analysis. There won't be much changing structure in this market condition. But, the most important thing is that the price has already broken out from this long awaiting consolidation structure. Not just that, the price is now forming a huge green candle temporarily. On the other hand, we must anticipate the golden pocket zone which is the area where the bitcoin is trending right now. No matter on what structure, the golden pocket zone must be the huge resistance zone for the price and price must respect this zone as a strong and major resistance. We might see potential of the price retesting previous broken resistance as support ($11189) to complete the phase 2 of break out strategy before claiming higher to test the .786 and the interim swing high as the next possible resistance.
With the bulls come in this condition, we know that a huge movement will occur later in the future. We might see potential bull rally in the short, medium and long term. I'd like to look at the potential of the next mark up phase that could occur in the most of coins.
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