Bitcoin is really trying hard to break out above overhead supply! We see another green low risk re-entry signal on the daily GoNoGo Chart for the prior bar. This shows that there is some bullish momentum behind the most recent move causing the GoNoGo Oscillator to rally off zero while in a “Go” trend.
The GoNoGo Trend is also painting the strongest blue bars as it tries to mount an attack on prior highs.
If the oscillator can continue to move higher into positive territory we would likely see a break out to new all time highs.
By
Alex Cole
