On the daily chart of BTCUSD, we can see price testing its near-two-month trend line for the third time. MACD indicates possible change in trend however we will need to see more volume support this breakout. If RSI produced a higher high, we may start an uptrend.
On a fundamental level, a lot of the China, South Korea and Tether FUD has dispersed from the market and sentiment may have changed after the critical SEC meeting on Feb 6. This important meeting still displayed a lot of divergence in opinion however there were strong undertones suggesting that cryptomarkets were not going to disappear and that there was potential for this market to get to $20 trillion dollars faster than expected...
Let's see how the market plays over the next 2 weeks, however, it is starting to look positive again now that the hysterics have subsided.
CryptoSwift
