As you can see on the chart, Bitcoin has been forming a triangle since it went full bull over 7k. The triangle indicates a continuation of the previous move. I am expecting to reach the fib 0.5 at around 7250 USD which aligns with the support of the high made a week ago.
To be safe, place a tight stop loss in case it breaks to the downside.
To be safe, place a tight stop loss in case it breaks to the downside.
Note
Target was hit, partly profits taken. Upside still has a lot of potential, but might see a small retracement short-term.
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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.