🔥 Bitcoin Bulls Are Back: Faked Out Bears

In my most recent BTC analysis I discussed a potential break through the top diagonal resistance. This signal got cancelled because BTC fell through the bottom support, but this ended up being a fake out. Bears thought they got the overhand, but apparently not...

Previous signal is being reactivated. If we can close a 4H candle above 42,750$, I'm interpreting that as a break out through the top resistance of the triangle with a target of 44,700$.

Furthermore, this break out could be the final break out of the consolidation period we've seen over the last two weeks. Things can heat up going into the new year, with the period between Christmas and NY historically being bullish.