BITCOIN - Emerging Bullish Breakout
BTC is current exhibiting bullish momentum on the Daily and lower timeframes, with higher lows being formed and resistance ~4100-4200 being tested already multiple times (The more a level is poked, the more likely it will break).
Bias is currently bullish.
- A breakout from local highs ~4100-4200 will see 4400 tested.
- A breakout above 4400 will see no real resistance until 5000.
If the bullish trendline fails, support is at 3700. A rebound here would still be considered bullish (higher low is formed).
If 3700 fails, 3300 is major support and bias will be bearish, and the long-term downtrend may continue.
Bias is currently bullish.
- A breakout from local highs ~4100-4200 will see 4400 tested.
- A breakout above 4400 will see no real resistance until 5000.
If the bullish trendline fails, support is at 3700. A rebound here would still be considered bullish (higher low is formed).
If 3700 fails, 3300 is major support and bias will be bearish, and the long-term downtrend may continue.
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