Bilo
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Crawling Out Of The Lows

Thread 1/5

So BTC crawled out of a downtrending resistance since the all time high. Draw it out and you will see.

BTC crypto

2/5

I say crawled out instead of broke out as for now, it’s moving flat. Normally an important breakout has atleast 2 very important factors.

1) a fight to get above the resistance 2) a retest and pump of of the resistance

BTC crypto

3/5

In this case, so far, neither has happened as BTC remains sideways hence “crawling out” from under the resistance.

This resistance line given it’s importance (since ATH ) also doesn’t have many meetings with BTC. Actually just 4

4/5

Moral of the story is you may hear that the bear market is now over bcs of this but unless we see a spring effect very very soon for BTC where it springs off from the retest of that line into a green dildo, this descending resistance line doesn’t mean much.

BTC crypto

5/5

The end of the bearmarket won’t be this obvious. It never is. Keeping eyes on this makes sense but not an overreaction

Trade safe

BTC crypto

This post is based on this twitter thread.

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