Bitcoin broke the downtrend and build up with higher highs and higher lows. It seems to be forming an ascending channel with a settlement in the upper part of the channel, denoting an indication to break to the upside. It's also testing the 200 MA which is working as a mediator between trends.
In the last few days, it seems to be forming a bull flag, if it breaks to the upside the target can be around USD $53,500, if it breaks to the downside the target can be around USD $40,000.
In the last few days, it seems to be forming a bull flag, if it breaks to the upside the target can be around USD $53,500, if it breaks to the downside the target can be around USD $40,000.
