BTC has been moving in a channel since the Dec drop, reliably rising and falling at the top/bottom of the channel. It has also consistently rebounded from the SMA 50 (daily). RSI and MACD support an bullish pattern . Taken together, there appears to be evidence suggesting a increase.
I propose a bullish pattern over the next 10-20 days as the price touches the bottom of the channel then moves up. Time will tell if the move is strong of if it is variable movement we've seen over the past month.
Having said that, things are a bit crazy in Crypto these days, so no one can say for sure.
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hovering around the top of the channel, if we push thought, it could be a sign of a change in trend. In the short term, it could lead to a double bottom as the trend reverses and begins the upswing again.
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Looks promising as a start to an increasing trend within the main channel established last year . . .
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May be the formation of the double bottom . . . or start of the continued trend to 10000 or 8000 resistance levels.
