After Thursday's bullish day on BTC, I wanted to revisit another screenshot of the 1234 Breakout Analysis that I've been tracking since the peak on December 17th. If we broke out today, and the margin is narrowing, we'd be in the ballpark of $8,700 on BTC/USD.
Checking in on the big elephant in the room. This proposed breakout is backing into its corner nicely. Where 10 days ago the proposed 1234 breakout was sitting at >$11,500USD, now on 3/17 the breakout is down to just under $10,500USD. In the spirit of "St. Patty's Day", I'm sure we'd all love to see a nice green upward trend kicking off, but I wouldn't mind...
Keeping an eye on this 1234 Breakout model to see what happens in the next few days. I am encouraged to invest in potential new growth if the trend breaks this line of resistance.
