Good day everyone!! In our last Bitcoin analysis we noted the importance of the $4,400 resistance level. This view and the importance of this price level has been expressed several times through twitter as well.
— Alexandros Yfantis (@alexanderYf) January 12, 2019
No BTCUSD has finally broken above the resistance and out of the bearish long-term channel. Is the bearish cycle over? How optimistic can one be? On April 1st I also tweeted this….
— Alexandros Yfantis (@alexanderYf) March 31, 2019
price action was giving reversal signs….
Price has broken above the cloud resistance, above the bearish channel, above the red rectangle resistance area. Recapturing the $6,000 price level would be an important step before confirming a major low. It is now important for bulls to defend the $4,000-$4,200 support area and not break back below it, because a fake break out would be a very bearish signal.