BTCUSD: TO BULL OR NOT TO BULL
Jumping into this quick analysis of BTC,
April has seen some positive price action, with a spike in volume coming into the month. Breaking out from its ascending wedge, we see a potential bull flag formation in the shape of an ascending channel. Volume has not left - which is a good indicator.
For the greedy ones out there, this may be a good time to 'buy the dip' as it retests the lower threshold/support of the ascending channel.
If this support fails however, we may see a pullback to $4200 as the next support level.
April has seen some positive price action, with a spike in volume coming into the month. Breaking out from its ascending wedge, we see a potential bull flag formation in the shape of an ascending channel. Volume has not left - which is a good indicator.
For the greedy ones out there, this may be a good time to 'buy the dip' as it retests the lower threshold/support of the ascending channel.
If this support fails however, we may see a pullback to $4200 as the next support level.
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