Bitcoin thrusts victoriously upward out of Hot Pink Triangle!
How's that for a headline? Haha...we have officially broken bullishly upward from the recent bear flag . while simultaneously confirming the bullish breakout out of the descending triangle which I have indicated here with hot pink to make it easier to see. The 50 MA(in orange) provided very strong support and helped thrust us back out of the hot pink triangle and then again back up and through the bear flag for a bullish breakout of the bearflag we were recently in, allowing the bullish momentum to increase exponentially...enough to finally close above the 100SMA(in blue) which had been acting as very strong resistance. Now that we have surpassed such obstacles you can see where the no longer hypothetical projected target of the hot pink triangle takes us with the dotted pink breakout target line....It only makes sense that we continue upward after having yet to reach our purple descending wedges price target. The hot pink triangle breaks bullish momentum invalidated the bear flags drop targets but definitely hit the target of the bullish breakout of the bearflag swiftly already which you can see on the chart that achievement is now unlocked. I say we are headed to unlock both the hot pink and purple projected target achievements next. We need to watch to see if the 100 SMA has switched from strong resistance to hopefully strong support and if not that the tline just below it will come to the rescue Game on! Thanks for reading! *not financial advice*
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