Bitcoin: Breaks Descending Trendline on 4H Chart
Trader Tardigrade notes Bitcoin has broken its recent descending trendline on the 4-hour chart after repeated tests of flipped support, pointing to a potential new uptrend.
SourceAnalysis
Bitcoin has broken the recent descending trendline on the 4-hour chart after repeated tests of the flipped support zone, according to @TATrader_Alan.
Price sits at $82754.25 above both the EMA50 at $82341.86 and EMA200 at $82083.3, keeping the structure bullish. The MACD golden cross at 6.54 adds momentum while RSI at 56.98 stays neutral. With price pressing the upper Bollinger band at $82890.63, the next logical move targets a measured pullback toward the EMA50 support before any extension higher.
Trader Tardigrade
@TATrader_AlanTechnical chartist and crypto content creator focused on Bitcoin and altcoin pattern analysis.