After the fatal breakthrough of the long run support curve dating back to early 2017, BTCUSD has created enough momentum to break back through and now rests above this support. While this may not seem like such a large event, this rebound suggests that we have not yet seen the end of the bullish behavior. We can expect, with the current strength of this rebound, that Bitcoin will at least continue increasing along this support.
However, a more aggressive support may develop in the near future. We will just have to wait and see.
However, a more aggressive support may develop in the near future. We will just have to wait and see.
Comment:
Price dips back below support curve. Looks like we will have to wait and see rather than bouncing on each opportunity.
Comment:
We will not be able to determine anything until the price sticks to a more bullish or bearish position. At the moment it is still waving around the support curve and is indeterminable.
Comment:
The support curve is putting up a very strong fight. However, we know that the market's pressure can always overwhelm this strong of a curve in such extreme scenarios.