BTC broke out of trading range
Updated
In the last two weeks Bitcoin was stuck in the trading range from 5800 to 6600. Yesterday the bulls made a big move and broke the heavy resistance at 6600. Because this resistance was very strong, I expect a continuation of this breakout. So the next level to watch is 7200. A break below 6500 would invalidate the bullish view and the situation must be reevaluated. Until now I stay very positive.
Trade active
One last push down tried to shake out the bulls. But they came back. We are soon at the target level. Then the situation must be reevaluated again.Trade closed: target reached
Take profit
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