Lets take a look at the Bitcoin market versus Bitcoin going into the month of April 2018!
As we can clearly see Bitcoin managed to break out of the down trend channel again.
Another bullish signal for me (providing we stay above 7000) is the fact that the price action pushed us back above the longer term bullish trend line.
The bearish news is that we are still trading in the second down trend channel, the bulls will have to push prices past the near term resistance of around $7600.
Consolidation above 7600 will be a healthy recovery.
If the buying volume does not show up we will test the shorter term support zones, which in my opinion is around $7000 – $7135.
Higher risk traders will be looking to go long or short here depending on which way the price action will swing.
Should the bulls fail to defend the 7k zone, get ready for another dip and some more discounts.
Feel free to discuss these trade ideas with us in Discord. Safe trades.