Hi All, Crypto Sludge here.
If you followed my yesterday's post, i mentioned that we were close to a decision point, and although i expected this a day later, one of the lines had to give, and it was the downtrend!
BTC has finally broke through the downtrend it started after almost reaching 20K$.
This is the 4H chart, and you can clearly see the breakout above the red downtrend line.
With a bit of luck, i am expecting BTC to continue to rise with the 1st resistance point at 12217$ and 12865$ both of them are TD risk lines formed by the TD 9 Sell signals we received earlier. Your stop loss is the green up trend line as if we break that i will consider this reversal broken and will need to re-evaluate the situation.
This is a risky trade, and i am not taking it myself personally, i will consider BTC truly bullish after it will break 13621$ the TD make trend line and buy the breakout.
Let me know what you think
Trade ON!
Crypto Sludge