Bitcoin Daily Outlook
Daily:
Bitcoin closed bullish and broke above our major wedge consolidation. This is a great sign for Bitcoin and its very likely we will continue higher from these levels. We saw upside moves from pullbacks at around $40,500; our next major resistance target is $45,500. Above that, I will become bullish on higher time frames. It is now Friday and I do expect some slow down to occur heading into the weekend. Next week should be very volatile and we may see even more movement. Intraday structure will be created over that time and we will use that structure to look for swing positions.
Intraday:
Bitcoin was bullish today and traded up approximately $2,000. We are now trading above our major wedge consolidation and I believe we will see a confirmed break on the daily tomorrow. We are in a very volatile area heading into the weekend so I would recommend letting structure be made before looking for more positions.
Bitcoin closed bullish and broke above our major wedge consolidation. This is a great sign for Bitcoin and its very likely we will continue higher from these levels. We saw upside moves from pullbacks at around $40,500; our next major resistance target is $45,500. Above that, I will become bullish on higher time frames. It is now Friday and I do expect some slow down to occur heading into the weekend. Next week should be very volatile and we may see even more movement. Intraday structure will be created over that time and we will use that structure to look for swing positions.
Intraday:
Bitcoin was bullish today and traded up approximately $2,000. We are now trading above our major wedge consolidation and I believe we will see a confirmed break on the daily tomorrow. We are in a very volatile area heading into the weekend so I would recommend letting structure be made before looking for more positions.
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