Bitcoin, Broadening Pattern Breakout
Updated
As you can see in the chart, this is a very simple idea, this is a broadening pattern breakout that signals the continuation of the uptrend.
Then, we have the 30k level that is a major resistance where a lot of people is going to open short positions which can result in big liquidations that will push the price higher.
To that we have to add that new money keeps being injected in the economy and that Tether market cap is going up, new money is coming in to the market, today 500 millions were injected in to the tether supply, which is another thing that indicates uptrend continuation.
I hope that you found this idea useful, I will be happy to see your opinion in the comments.
Don't forget to give me a boost.
Then, we have the 30k level that is a major resistance where a lot of people is going to open short positions which can result in big liquidations that will push the price higher.
To that we have to add that new money keeps being injected in the economy and that Tether market cap is going up, new money is coming in to the market, today 500 millions were injected in to the tether supply, which is another thing that indicates uptrend continuation.
I hope that you found this idea useful, I will be happy to see your opinion in the comments.
Don't forget to give me a boost.
Trade active
Currently taking off
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.