Will bulls take charge now that Bitcoin price trades above a long-term trendline resistance? By Cointelegraph
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Will bulls take charge now that Bitcoin price trades above a long-term trendline resistance?On Oct. 4 and 5, (BTC) took another step through the $20,000 mark, bringing the price above a long-term descending trendline that stretches all the way back to April 22 or Nov. 15, depending on one’s style of technical analysis.
Some traders might be feeling a bit celebratory now that the price trades outside of the descending trendline, but have any relevant metrics or macro factors changed enough to support a bullish point of view for Bitcoin price?
Continue Reading on Coin Telegraph
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Will bulls take charge now that Bitcoin price trades above a long-term trendline resistance?On Oct. 4 and 5, (BTC) took another step through the $20,000 mark, bringing the price above a long-term descending trendline that stretches all the way back to April 22 or Nov. 15, depending on one’s style of technical analysis.
Some traders might be feeling a bit celebratory now that the price trades outside of the descending trendline, but have any relevant metrics or macro factors changed enough to support a bullish point of view for Bitcoin price?
Continue Reading on Coin Telegraph
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