On my BTC chart, based on the last 4 weeks, we can see that both the red horizontal Resistence line and the green trend line meet at approximately $12,319.
Now, if the price breaks out over the Resistence ($12,391 approx), we could see the clearest indication yet of the start of a quality bullish movement.
The fact that the price is following the trend line (at the moment) indicates that we could be in the midst of a bullish flag signal.
Obviously, as a bull, I do not want to see the price fall below the trend line. If it does, then we will have to keep waiting for a surge in price, but in the meantime, we could see BTC fall below $10,000 (or lower still).
So for me, breaking resistance at $12,391 (or thereabouts) is key to bullish revolution of BTC - if it fails, then we go back down to $10,000 at least.
Now, if the price breaks out over the Resistence ($12,391 approx), we could see the clearest indication yet of the start of a quality bullish movement.
The fact that the price is following the trend line (at the moment) indicates that we could be in the midst of a bullish flag signal.
Obviously, as a bull, I do not want to see the price fall below the trend line. If it does, then we will have to keep waiting for a surge in price, but in the meantime, we could see BTC fall below $10,000 (or lower still).
So for me, breaking resistance at $12,391 (or thereabouts) is key to bullish revolution of BTC - if it fails, then we go back down to $10,000 at least.
