BTC's 3-day K-line retraced from 4/25 to 5/1, finding support at the "downtrend line," and after the close on 5/3, successfully broke above the "trend channel" upper boundary, which is not a common pattern in a bear market downtrend.


Therefore, the next 2-3 candles are extremely important. Based on past bear market cycles, if it's a false breakout, then roughly 3-4 candles above the "trend channel" will drop back down, and the bottom will be re-established.
If not, then this is a bullish (small bull) trend signal. This is similar to the signals given by on-chain data. For example, currently, BTC price has broken through the dual resistance of STH-RP + TMMP.
Could this be temporary? We don't know. But if it can stay above it for a continuous week (usually false breakouts don't last that long because a large amount of short-term chips will be sold near the cost line), then it is also a bullish trend signal.
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SpeculativeAnalyst
· 4h ago
Hop on now!🚗
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SpeculativeAnalyst
· 4h ago
Just charge forward 👊
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SpeculativeAnalyst
· 4h ago
Just charge forward 👊
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