🔥 Bitcoin Break Out Imminent
In my previous BTC analysis I dived into the fact that the massive long term resistance (blue) has been broken.
Take a look for reference:
After falling back towards the blue line, it appears that we're again seeing some bullish price action this morning, especially on the alts.
For now, BTC is trying its best to break out of a neutral wedge pattern. This break out can either happen this morning, or tomorrow. With alts being this bullish, I'm quite confident we're going to see a bullish move from BTC in the coming days.
First target will be 36.5k. As soon as this target is reached, I think we will be seeing some consolidation around this area. Hopefully, we manage to break above 36.5k and resume our path towards 40k, which is the next major resistance. We need to get above 36.5k in order to have a shot at a new bull-run anytime soon.
Things are looking good. Happy trading!
Take a look for reference:
After falling back towards the blue line, it appears that we're again seeing some bullish price action this morning, especially on the alts.
For now, BTC is trying its best to break out of a neutral wedge pattern. This break out can either happen this morning, or tomorrow. With alts being this bullish, I'm quite confident we're going to see a bullish move from BTC in the coming days.
First target will be 36.5k. As soon as this target is reached, I think we will be seeing some consolidation around this area. Hopefully, we manage to break above 36.5k and resume our path towards 40k, which is the next major resistance. We need to get above 36.5k in order to have a shot at a new bull-run anytime soon.
Things are looking good. Happy trading!
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