Bitcoin: consolidation before the breakout.
Updated
The idea is a follow-up to the downtrend breakout idea, attached below. Please like & follow it if you like it :)
The RSI is very good for the bull run, but in short term candles, RSI is a bit overbought - that's the reason why it went back from 6740 to 6675. They are selling in order to buy again and break out.
These are the following scenarios of the upcoming breakout, more reasonable scenario is going back to 6550 and then start again from there.
Please watch it carefuly, because the news might change thebulls mood very quickly.
I'm long from 6375 and my targets are above 7000's now.
Good luck!
The RSI is very good for the bull run, but in short term candles, RSI is a bit overbought - that's the reason why it went back from 6740 to 6675. They are selling in order to buy again and break out.
These are the following scenarios of the upcoming breakout, more reasonable scenario is going back to 6550 and then start again from there.
Please watch it carefuly, because the news might change thebulls mood very quickly.
I'm long from 6375 and my targets are above 7000's now.
Good luck!
Note
So as expected, it as the scenario to hit it lower before the breakout.I would guess the next stop now is 7000-7200, so be prepared!
Good luck!
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