Bitcoin(BTC) bullish as it readies to march into 70k and beyond
Hello. Bitcoin(BTC) in my technical analysis is ready to march into the 70k mark, and possibly 73k. BTC recently broke its ATH(red dashed line), and people will perhaps FOMO into the coin.
BTC broke its all time high with the help a triangle pattern breakout marked in yellow and green. The breakout candle had thrice the volume of the preceding candle, which signifies of a healthy breakout.
The Relative Strength Index(RSI) agrees with the price, having some breakout of it's own pattern.
One factor that contributed to the recent BTC rise in price is the 100 MA support, in which price had a hard time breaking through.
BTC is ready to move to the 1.272 Fibonacci, or the 70k level. It may even reach the 73k level or the 1.618 Fib by mid-November.
Thank you for reading! Give constructive feedback in the comments, thank you in advance!
By the way, this is no advice for your trading. Do your own research.
BTC broke its all time high with the help a triangle pattern breakout marked in yellow and green. The breakout candle had thrice the volume of the preceding candle, which signifies of a healthy breakout.
The Relative Strength Index(RSI) agrees with the price, having some breakout of it's own pattern.
One factor that contributed to the recent BTC rise in price is the 100 MA support, in which price had a hard time breaking through.
BTC is ready to move to the 1.272 Fibonacci, or the 70k level. It may even reach the 73k level or the 1.618 Fib by mid-November.
Thank you for reading! Give constructive feedback in the comments, thank you in advance!
By the way, this is no advice for your trading. Do your own research.
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