Bitcoin has been test and retesting the rising support line build ever since Jul 2019.
Yesterday we tested this support line yet again.
Keep in mind both on the weekly and the daily we are in a triangle that screams for a change of trend.
I would argue we will see the long expected trend reversal upwards.
There is currently no new news in the market and institutional investors have been stocking up on Bitcoin (BTC).
There is been a huge order book on the buy side for weeks now keeping Bitcoin from dropping further.
The time seems to have come for the switch.
I would consider a daily close above the triangle bullish.
If we can reach $42.5k it gets super bullish and if we close above the weekly triangle we are can have a seat and ride on the bull.
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Yesterday we tested this support line yet again.
Keep in mind both on the weekly and the daily we are in a triangle that screams for a change of trend.
I would argue we will see the long expected trend reversal upwards.
There is currently no new news in the market and institutional investors have been stocking up on Bitcoin (BTC).
There is been a huge order book on the buy side for weeks now keeping Bitcoin from dropping further.
The time seems to have come for the switch.
I would consider a daily close above the triangle bullish.
If we can reach $42.5k it gets super bullish and if we close above the weekly triangle we are can have a seat and ride on the bull.
--------------------------------------------------------------------------------------------------------
** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. **
--------------------------------------------------------------------------------------------------------
!! Donations via TradingView coins also help me a great deal at posting more free trading content and signals here !!
Crypto is getting sucked down with the stock market, we'll see how it weathers this storm