Last week was quite eventful for $BITSTAMP:BTCUSD. After breaking out of the two-week-long rectangle consolidation, the price surged, increasing by $10,000 in just a few days, or more notably, around 20%.
However, after reaching a local high on Thursday, the price began consolidating recent gains and is adjusting to the $60,000 mark.
The positive aspect for bulls is that this consolidation is forming a symmetrical triangle, which typically indicates a continuation pattern.
The target for this pattern is the 67k zone.
In conclusion, in my view, any dips should be considered opportunities for buying, and only if the price drops below 59K in terms of daily closing would this scenario be put on hold.
However, after reaching a local high on Thursday, the price began consolidating recent gains and is adjusting to the $60,000 mark.
The positive aspect for bulls is that this consolidation is forming a symmetrical triangle, which typically indicates a continuation pattern.
The target for this pattern is the 67k zone.
In conclusion, in my view, any dips should be considered opportunities for buying, and only if the price drops below 59K in terms of daily closing would this scenario be put on hold.
Note
We are very close to an up breakWhat if the price rises above 63k
Note
And up we broke.As said, the target for the triangle is 67
Note
So far, all good and as expectedNote
We are approaching the 67k target.This statement reflects my current contemplation and may offer an intriguing perspective for discussion.
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📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.