In the last few days, we have seen the Bitcoin rise from $ 33,000 to $ 44,000.
How to read this price increase? Is this a trend reversal or a correction in the downtrend?
As can be seen in the Ranko chart, Bitcoin broke up the resistance of the EMA 20 and is still below the static resistance level of $ 45,000 and the resistance of the MA 40 , which is also in the range of $ 45,000. In order to talk about a change in the bitcoin trend, I think these two resistances need to be broken up and confirmed.
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