Just a quick post to note the breakout of my channel that happened earlier.
Heres the 10 day chart with the breakout marked by a little red arrow in case you missed it.
So does this mean the bears are defeated already? Its definitely a very bullish sign but I’m not sure it means the bears are defeated quite yet and that down slope looks pretty well defined. Perhaps the downward pressure on price will continue. At this point I don’t see any obvious new up trend yet.
Personally I’m undecided, I’ve sold some bitcoins, had a change of heart and bought some back and losing on both sides of the trade :-/ Perhaps I just need to sit back a while and observe.