As you can see, Bitcoin finished last months candle with an indecisive doji. This month is already starting higher than last month. This is a good sign for investors still sitting on the sideline.
The downtrend resistance line that you can see starting in December is currently resting right on today's candle. If we break through this, our next resistance will be around 11160, which was tested two weeks ago. We saw Bitcoin break through that resistance for a moment but it wasn't able to keep the momentum and all you see on the chart is a wick on the 20th of Feb. We also see that the support trend line was broken last week and several weeks ago. This has been caused by mass panic selling and market manipulation, I believe. If we continue to see the same uncertainty in the market, I could see another push below this support line again. For now, I think we're moving into bullish territory. However, I would have those stop limits set, just in case the market isn't ready for a new breakout.
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Cheers,
Crypto Clay AKA @clayford08
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