Bitcoin rallied by over 6%, more than on any bullish day since its 6 February bottoming candlestick piercing pattern. This is encouraging for the bulls, especially since it intraday managed to break above its key resistance area which has capped the upside since early February. The fact that this year’s downtrend line at $71,454 has been breached is another technically positive sign. ​What is needed now for a medium-term bullish reversal to gain traction is a rise and daily chart close above Wednesday’s $74,071.02 high. If this were to happen, the March 2024 peak at $73,757.39 and the October 2024 high at ... (full story)