The level of 38K held the price as a level of support and pushed it towards the North. However, the price got bearish again. It seems that it may remain bearish for a while. A bullish reversal candle in the weekly chart may attract the buyers to go long again in Bitcoin.
Good morning all, little update today on the Bitcoin trade entered. If you watch my YT channel you would of seen I was looking to buy again from the demand area, which we previously bought at. As i have said previously i think this demand zone is the current bottom so am happy to buy from here. We did well on the last buy from here. If we get a break out of the trend we could see the trend change. the News was good for us yesterday, but i do think we may fall back and get squeezed into the corner before we move away. So hold if you joined me and if you missed then you may get an opportunity to enter soon if we re visit the demand zone below. Will update again in a few days. GLIYF
Today's price action suggests that the trendline's resistance may play a vital role to determine Bitcoin's direction. The buyers may have to wait for the price to make a breakout at that resistance to go long in Bitcoin.