E Is Bitcoin Breaking Higher?

Bitcoin topped in December of 2017, then bottomed again in December of 2018 and this was a bigger higher degree corrective decline in 2018, mainly because of a triangle in the middle. Then, at the beginning of 2019, we have seen a strong push to the upside, clearly with five waves, which is actually a signal for the bullish trend. Later, in the second half of 2019 Bitcoin fell once again, but as you can see in a very slow and overlapped manner, so a corrective wave structure that lasted for 6 months, and again it bottomed, again in December of 2019. Now, at the beginning of 2020, we can see quite an impulsive and significant recovery, which was expected based on many evidences, like a bullish divergence on the RSI and MACD indicators or a corrective decline into a strong support area of the previous triangle pivot from 2018, plus a base channel line from 2019. All being said, we assume that the Crypto market, specifically Bitcoin can be turning bullish again, especially if we see a decisive break above resistance line of a corrective channel. But as you know, in any trend there are pullbacks and a lot of tricky price actions in the middle. 

BTC/USD, daily

(Click on image to enlarge)

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