What Bitcoin needs to do to become Bullish long term right now ?

Fellow traders, I am posting a simple chart to show the current scenario for Bitcoin to be bullish.
- Bitcoin is bearish until it breaks trendline resistance #1 and resistance #2.

Trendline Resistance #2 is the bigger one. Once resistance at trendline #2 is broken, Bitcoin will make new All time high. If Bitcoin breaks trendline resistance #2, it will make 100k new all time high pretty soon. See my analysis here for Bitcoin's price targets once it becomes bullish again :

Yorum:

Bitcoin is still bearish as there is no volume while taking out the second resistance.