Hi friends, hope you are well and welcome to the new update on Bitcoin.
During the recent sell-off Bitcoin dropped at the support of the triangle which was previously broken out. We also had a bullish divergence on a 4-hr time frame, therefore, Bitcoin eventually moved up and broke out the triangle on a daily and a channel on 4-hr time frames respectively. Now on a weekly time frame, it can break the 200 weekly simple moving average resistance. For a detailed analysis, you can also watch the video.
