BTC/USD - Bullish mode activated - ATH in danger!
BTC price has slowly moved out of the pennant again and now we're in a clear bullish pattern.
Our first test is the resistance at 38k and then ATH levels.
This move is a bit timid compared to our last breakout, however, there is no reason to dismiss this as we can build more momentum as we move up.
Indicators are looking great and they are bullish. Particularly MACD did a positive cross on 4h and is about to do the same on daily, which signals that this move up will last for quite a while after we consolidated in this area for over a month.
Volume is still to be desired, but we can be patient for that as the move higher develops further. What matters is that February looks exciting for bulls.
Bias remain bullish as long as we hold support levels, particularly the pennant resistance that turned support (in yellow circle). ETH is also looking bullish and keen to break ATH, so overall market looks great for new gains.
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Our first test is the resistance at 38k and then ATH levels.
This move is a bit timid compared to our last breakout, however, there is no reason to dismiss this as we can build more momentum as we move up.
Indicators are looking great and they are bullish. Particularly MACD did a positive cross on 4h and is about to do the same on daily, which signals that this move up will last for quite a while after we consolidated in this area for over a month.
Volume is still to be desired, but we can be patient for that as the move higher develops further. What matters is that February looks exciting for bulls.
Bias remain bullish as long as we hold support levels, particularly the pennant resistance that turned support (in yellow circle). ETH is also looking bullish and keen to break ATH, so overall market looks great for new gains.
Like and follow if you liked this idea!
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