Bitcoin (BTC) has broken out from a short-term resistance level while its daily RSI has returned to the bullish territory.
Bitcoin had been trading underneath a descending resistance line since the beginning of April.
Sponsored SponsoredMore importantly, the daily RSI bounced from its ascending support line (green icon) and moved above 50 once again.
Short-term breakoutThe six-hour chart supports the finding from the daily time frame and shows a breakout from a shorter-term descending resistance line.
BTC wave count analysisThe most likely short-term wave count suggests that Bitcoin has completed wave two (yellow) of a five-wave upward trend.
Disclaimer: This story is auto-aggregated & summarized by a computer program and has not been created by TokenAround.