BTC starting an uptrend?? It has to break key levels first.
This is a seemingly random chart but I think it could tell a good story.
The red squiggly line is the 20 ema on the daily, which normally signals the trend of BTC. Breaking above it for a prolonged period of time = a good uptrend. This the ATH BTC has only been above this ema once on the daily, but for a short period of time during the 50k bull trap 23rd - 28th of December during Christmas fomo.
There is also some very key trendlines shown in golden which could act as both strong resistance and support.
The lines shown in yellow are key fibs based on recent price movements which I think will be respected also.
The rising wedge has to make a price decision sooner or later...
The red squiggly line is the 20 ema on the daily, which normally signals the trend of BTC. Breaking above it for a prolonged period of time = a good uptrend. This the ATH BTC has only been above this ema once on the daily, but for a short period of time during the 50k bull trap 23rd - 28th of December during Christmas fomo.
There is also some very key trendlines shown in golden which could act as both strong resistance and support.
The lines shown in yellow are key fibs based on recent price movements which I think will be respected also.
The rising wedge has to make a price decision sooner or later...
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