Bitcoin price broke out this week, but has the trend changed?

BTC price attempted to break out of the range before retesting underlying support. Is a trend change at hand or will the price continue to consolidate?

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This week, the price of Bitcoin (BTC) has risen, surging to $21,000 on October 26. This has led a handful of traders to proclaim that the bottom could be reached or that BTC is entering the next phase of certain techniques. structure like Wyckoff, a range break or some sort of support resistance reversal.

Before going bullish and opening 10x longs, let's go back to previous analysis to see if anything in Bitcoin's market structure has changed and if the recent wave of bullish momentum indicates a broader trend change .

When the last update was released on September 30, bitcoin was around $19,600, which is still within the last 136 days of price action. At the time, I identified bullish divergences on the weekly Relative Strength Index (RSI) and Moving Average Confluence Divergence (MACD). There was all...