✳️ Metal Bullish Bias Explained + Related To Bitcoin

25 mar 2023

Here we have a mixture of patterns that alerts us of a bullish bias.

MTLBTC

- Produced a very strong decline. A strong move to any side produces a similar reaction to the other side.

- This steep decline from 20-Feb. to 22-Mar. ends in a higher low compared to Dec. '22.

- A volume breakout takes place; the highest volume since February. This signal goes together with the previous two.

- As these signals accumulate, prices break above EMA10.

Some other pairs, not many but a few, are starting to show huge breakout on the Bitcoin side.

If more pairs break bullish, this confirms that this group of Altcoins is ready for a bullish wave.

It also confirms Bitcoin's higher low, regardless if the correction it produces is weak or strong.

Namaste.