Bitcoin has been creating higher lows with higher highs on the daily chart which is taking this script on the higher side. Currently, Bitcoin is trading at $9900 level, up 4.5% from yesterday's close of $9472.
Encouraging part of last two days rally is a volume which is above normal, due to which Bitcoin manage to cross resistance in the form 10 Days EMA.
Candle bar of yesterday's session with increased volume was quite bullish. If this momentum remains intact then Bitcoin may also cross or breakout from Long-Term Rising Trendline(yellow color diagonal line).
With short-term trend on the upside, long-term trend is still down and Bitcoin need to cross descending channel and $12847 level to resume its uptrend. Buyers can ride this up wave but should aware of upcoming resistance in form of rising trendline as discuss before.
With that said, I am signing off this little update.
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