There are two main possibilities:
- Breakout If we overcome all resistance, including 50 MA and descending resistances as well as , then and only then I will consider this a reversal of the downtrend.
- Rejection If we are deflected back then we will likely retest the 6000 USD level. This requires new evaluation at that time.
I'm already long. First target is 11,900 but I'll hold for confirmation at that time as, if we do get a breakout, my plan is to hoard BTC :D
Good luck and happy days.
We should have corrected by now, but every time they throw down 50 btc on the order books to keep this up, volume is pretty low tbh.
I'll see if there's a solid breakout I'll rejoin.