Bitcoin testing resistance

٩ يناير ٢٠٢٣

Bitcoin has moved higher out of the bear flag pattern to test long-term resistance. There has not been any increase in volume as you would expect from a break-out. We should also consider that the move has happened during the weekend which more often signals a fake-out because with less orders in the books it is easier for trading platforms to manipulate the price. If it breaks through resistance and continues higher with volume that will be my trigger to be bullish. I am still expecting a reversal here as the USD begins to move higher after finding support.