[Bitcoin] Convergence Three-way Breakthrough Appears!!! #Crack #Bitcoin #Binance #Daily
- The convergence break out has finally appeared.
- An bullish breakout of convergence has appeared, and an additional bull trend can be expected with the closing above the $31.6k resistance section.
- When looking at the trading volume, a strong volume appeared up to $26,700 touches, and it is still premature to expect a clear bull trend as it cannot exceed the trading volume at the time when the convergence is in progress or when the convergence is broken.
- However, if the above trading volume is interpreted differently, it can be interpreted that the volume that appeared at the $26,700 touch was digested at the $28k support line, and the $26,700-$28,000 support level can be understood as strong as that until a bearish candle is made with that amount of trading volume.
- For this reason, it is still difficult to have confidence in the bull trend or bear trend, and it is also possible to imagine lowering the low after resistance in the white parallel channel or the blue high channel bottom (green box) section.
- There has been a downward trend for a long time, although it is still confirmed as a short-term deviation from convergence, it is too early to judge that it has turned to an bull trend. Personally, looking at the volume that supported $26,700-$28,000, which is raising expectations for a trend change.
