Bitcoin has crossed above an important resistance line which now acts as support

Bitcoin may be pulling back currently, but that is likely going to be short lived, at least if we go by recent history.

Any time bitcoin crosses this line it goes on a bull run...

Check this out:

(Source: https://twitter.com/888Velvet/status/1492275472469745664/photo/1)

The last time it crossed this line and pulled back to retest was in August of 2021.

If history repeats we are looking at weeks to months of positive price action and significantly higher prices.

Give that backdrop, the recent pullback is likely a good entry point.

Personally I bought more bitcoin here at $42k.

If this setup fails and falls below $41k, we could see prices test $38k.