Trend BreakOct 6, 2021
BTC/USD technicals flipped into bullish territory after breaking above a key trend line. The move was catalyzed by significant spot buying at the North American open.
As we’ve mentioned in the past, a break above upper trend lines doesn’t confirm a reversal on its own. Price needs to remain above the trend line and consolidate there for the break to be valid. Crypto markets are all too familiar with “fakeouts.”