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VOR UPDATE:

Day 12 of the Valley of Resistance. It re-tested the mid trendline, as predicted.

– 3 Days later it tested it again breaking through the resistance. – 22nd March

– After breaking through the middle trendline of resistance it tested the 200EMA resistance fell and converted the middle trendline resistance into bullish support. – 23rd march

– From the middle trendline it worked it’s way above the 200EMA resistance, fell, and held support again above the 200EMA. – 24th March

– Closing and holding support in the orange triangle is bullish . As you can see, every time it peaked through the middle trendline it was politically motivated and a dump followed as it held no real volume . The “Biden Pump” (Executive Order for crypto regulation) for example (9th march to the 10th march).

– Since, it has followed a reasonable uptrend in which it has tested resistance, broke though a few times and is now finally holding support above the middle trendline. This accumulation of support over the past few days/weeks will prove to be strong enough to continue it’s uptrend.

As I’m bullish on bitcoin according to this price-action, It’s likely we won’t see any dumps strong enough to dip below 40k/41k in the near future (assuming the 200EMA confidently holds support onre more time) unless geopolitical FUD occurs i.e. ukraine/russia/ inflation /IR hikes/national Food shortages etc.