BTC USD Daily. Bullish engulfing. Ascending Channel.
BTC closed on the 5th of May with an engulfing candle. Bitcoin won that day, but only just. Also price action currently remains within a larger ascending channel, two touches to the top so far and two touches to the bottom. A third touch of either may well be the break this time. Price action is still trying to move to the upside, for me, the bulls have it at the moment. I think it could test ATH on this run.
But...You will see my ascending line in red which is current price action support. If it breaks this convincingly then we may well look at a visit to the 50K region.
My immediate area of interest on this chart is the red ascending line, I am keen to see what develops there if we get another touch on it.
I'm not in a trade. I'm watching and HODL. But, I am bullish and will commit to being long.
But...You will see my ascending line in red which is current price action support. If it breaks this convincingly then we may well look at a visit to the 50K region.
My immediate area of interest on this chart is the red ascending line, I am keen to see what develops there if we get another touch on it.
I'm not in a trade. I'm watching and HODL. But, I am bullish and will commit to being long.
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