Price has been moving sideways for almost 3 weeks within the Dec 4th exhaustive candle range.
The sideways action has formed a small descending wedge, which is traditionally a bullish pattern.
Yesterday's candle has now broken above AND closed above the descending trendline, which indicates a possible end to the bearish price action.
A number of buying opportunities should present themselves in the coming days, especially if price can clear $50k and then $54k resistance zones.
The sideways action has formed a small descending wedge, which is traditionally a bullish pattern.
Yesterday's candle has now broken above AND closed above the descending trendline, which indicates a possible end to the bearish price action.
A number of buying opportunities should present themselves in the coming days, especially if price can clear $50k and then $54k resistance zones.