Well, we finally broke out. It happened before we really traded properly into that channel we discussed in the previous ideas.
It also looks like we're convincingly now above the downward trendline (yellow) and look to be continuing the upward channel from a couple weeks ago since the $6k bounce (green). The question is, will we bounce off the top of this new trend line? Are we are really out of the downtrend? (I still can't believe it...) Or is there too much resistance at $11,000 - $11,200 and not enough news/volume to push us forward?
Recent big news people are discussing that could be contributing to positive sentiment U.S. Commodities Regulator Allows Its Employees to Trade Cryptocurrencies and Tax-Free For Cryptocurrency Users: Germany
It also looks like we're convincingly now above the downward trendline (yellow) and look to be continuing the upward channel from a couple weeks ago since the $6k bounce (green). The question is, will we bounce off the top of this new trend line? Are we are really out of the downtrend? (I still can't believe it...) Or is there too much resistance at $11,000 - $11,200 and not enough news/volume to push us forward?
Recent big news people are discussing that could be contributing to positive sentiment U.S. Commodities Regulator Allows Its Employees to Trade Cryptocurrencies and Tax-Free For Cryptocurrency Users: Germany