Technical analysis by FundiFinance about Symbol BTC: Buy recommendation (12/31/2021)

BTC confirms the bullish breakout from bearish descending wedge formation. In my eyes, BTC just confirmed support on the old resistance a very strong bullish move, confirming support on the resistance that kept BTC going down in recent sell-off and again putting a higher low on the support trend from the covid low. BTC has also hit the bottom Bollinger band on the same support levels I am talking of. The 1-month chart is set to put in yet another Higher low in a giant ascending triangle formation. RSI is still very bullish after pulling a bullish divergence the RSI also looks set to confirm the breakout move with a higher low confirmation. MACD has yet failed to reverse back from a bullish divergence and also shows more room to the upside is possible. Fundi sees support for BTC has no confirmation and will set a long entry with a stop loss just below the intersection of multiple trends supports, the next region for us is 55k then 61k, at these levels, we suspect some resistance and selling pressure.