Bitcoin Breaks Descending Channel, Trading Above Resistance

Bitcoin (XBTUSD) broke out of a descending channel and is now trading above EMA200.

The immediate resistance is now at $7155 or EMA300.

Prices for XBTUSD can range between these two levels until one breaks.

We are of the bullish perspective as we just broke the descending channel and have bullish indicators.

If EMA10/EMA200 fails as support, we go bearish on this chart.

Thanks a lot for reading.

Namaste.