BTC has broken through our first level of resistance - the micro falling wedge that we identified as a bullish formation.
BTC is now flirting with our next level of resistance that has been respected since the 10th of Novemeber (illustrated by the blue line).
A break of 50k will signal a potential end of the recent downwards price movement, a possible outcome that is backed by our MACD indicators, which are also signalling potential bearish exhaustion.
Analysis of previos Chrristmas BTC price action shows that historically the asset can be quite boring. With the exception of course being in 2017, where bitcoin saw a significant correction follwing its 45% sell-off, rising approximatley 30% in the week that followed.
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What do you think? Will this Christmas be another boring day for Bitcoin, or will we see the start of a new bullish wave like we did in 2017?
My bets are towards the upside!
BTC is now flirting with our next level of resistance that has been respected since the 10th of Novemeber (illustrated by the blue line).
A break of 50k will signal a potential end of the recent downwards price movement, a possible outcome that is backed by our MACD indicators, which are also signalling potential bearish exhaustion.
Analysis of previos Chrristmas BTC price action shows that historically the asset can be quite boring. With the exception of course being in 2017, where bitcoin saw a significant correction follwing its 45% sell-off, rising approximatley 30% in the week that followed.
_______
What do you think? Will this Christmas be another boring day for Bitcoin, or will we see the start of a new bullish wave like we did in 2017?
My bets are towards the upside!
