BTCUSD Update. 06 January 2019
In the previous post about BTC, I wrote:
As the market demonstrates the unwillingness to move lower, we should expect a bullish breakout above the blue line.
What is now?
(1) This is an expected breakout above the blue line.
As you can see, the development (2) of the bullish rally is not so energetic. It is very hard for buyers to push price higher toward new high grounds. There are two reasons:
- (3) center-line of the long term downward channel;
- (4) violet line of the bigger wedge pattern.
What is next?
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