When the price stagnates and then breaks a lateral trend...

8 févr.

It's been a while since I published an analysis with a 1h timeframe. Well, the price of btc created a lateral trend (from 30 sessions upwards), establishing two levels in which it moved for a week, then the breaking of one of the levels brought a resumption of the rise and an increase in directionality associated with volatility, with a break visible to all. In this case the upper level being the rectangle is a purely continuation figure, it acted as a cap for a while, now a scenario where the price goes to test the resistance area between 46k and 49k usd, becomes more likely the one to follow before determining whether the correction is finished. It has already given a sign of this by making a high breaking this lateral trend, because it also exceeded the previous movement which lasted 12 days in terms of time.