Bitcoin is currently trading in a bear flag channel.
Expect a test around 42,300 before it breaks downwards with force.
After breaking out of the channel, consolidation should occur around 39k-40k before its next leg down to 36k-38k area.
If BTC has a strong upward bounce at 39k , it may head towards the upper trend line around 44k.
Bulls have a lot of work to...
A beautiful bull pennant has broken us free from the $8,600 resistance. The volume was nice and helped kick us through the $8,700's. These two previous resistance areas will now act as support. The $8,600 level is much stronger. Keep a close eye on this trend channel. I expect it to stay inside the channel until around the $9,200 level (our next major resistance....
