Bullish scenario playing out for BTCUSD. Early signs at the lows in February were the positive divergence on MACD and DMI.
Now:
1. MACD in positive configuration and turning up after a short consolidation.
2. DMI strongly positive with no weekly negative divergence.
Break above recent highs today confirms continuation with $6,100 area the next resistance. I would expect another round of consolidation/choppiness as we reach that zone, but technicals should hold it together. As of now, February lows still seem like the Low.
Now:
1. MACD in positive configuration and turning up after a short consolidation.
2. DMI strongly positive with no weekly negative divergence.
Break above recent highs today confirms continuation with $6,100 area the next resistance. I would expect another round of consolidation/choppiness as we reach that zone, but technicals should hold it together. As of now, February lows still seem like the Low.