BITCOIN: Week 41 Outlook
After losing over -18% BITCOIN consolidated for 13 days before breaking upwards per the Bullish Flag Pattern extension playing forward. We saw a slow market last week as Bitcoin moved up +5.00% and down -4.00% to close at -2.39% for the week at $7859.79.
Our expectations are for it to rally up to the top of the Bull Flag Pattern between $9500 and $9600 with a positive investor outlook. In the event we see bearish momentum pile up in the Bitcoin market, we could see the price reach $9500 and fail to move lower into the $7500 range. However, our expectation is bullish to see it higher at +$9500 territory.
THE PLAY: We are buyers of this market with if Wednesday, October 9th daily candle closes above $8400
Our expectations are for it to rally up to the top of the Bull Flag Pattern between $9500 and $9600 with a positive investor outlook. In the event we see bearish momentum pile up in the Bitcoin market, we could see the price reach $9500 and fail to move lower into the $7500 range. However, our expectation is bullish to see it higher at +$9500 territory.
THE PLAY: We are buyers of this market with if Wednesday, October 9th daily candle closes above $8400
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