I think CRYPTOCAP:BTC wrestles with the top and bottom of this box before continuing this recent move
It pumped straight into .618 fib resistance at 64.5k, and has a .382 fib support at 63k
You can see in the 1st pic that this has been a respected zone for months. Look for 63k to hold for a move towards the top of the descending broadening wedge 67.2-69k
On the daily chart bitcoin is clearly in a huge ascedning triangle. The A and B points are set so we know the breakout target will roughly be 105k.
Pretty cool how well price is currently respecting the triangle and trying to stay within it.
Think the C and D points shift to different lows/highs and this triangle expands which will be more bullish allowing price...
Might be possible that BTC is forming a massive bullish pennant on the daily, and maybe that's why it's respected the 60-70k range so well. A breakout from a pennant of that size would send us well over 100k
Is it possible that BTC is just forming a massive bullish pennant, and that's why (for the most part) it's respected the 60-70k range so well? One of that size would send us well over 100k..
Is it possible that BTC is just forming a massive bullish pennant, and that's why (for the most part) it's respected the 60-70k range so well? One of that size would send us well over 100k..
Is it possible that BTC is just forming a massive bullish pennant, and that's why (for the most part) it's respected the 60-70k range so well? One of that size would send us well over 100k
Thought it was cool how the fib pitchman lines up almost perfectly with the trend line. Hard for me to see BTC breaking under 56k. Bulls really don't want to see 56-61k to become resistance -- that would definitely complicate things
We have the 200 ema and the median of the pitchfork aligned at 59.5k. There's fib support in the same neighborhood too. Let's see if this hold it's worked the first couple of test. Bulls don't want this to flip resistance..
BTC looking good on the 1 hour. If it stays in its current regression and keeps riding the trend line from the 63k lows it should launch out of its triangle Monday night at the latest (pinnacle 69.8k). Target remains at 71k (top of tl on daily)
BBWP also indicating it's ready for its next move
BBWP indicating bitcoin is almost ready for its next leg up/down. I think maybe down some to reset PMAR
But since the Trump speech yesterday it's held its regression on the 45 min lol, and riding the trend line for the 63k lows.
Bitcoin holding its 45 min regression here -- looking bullish again. 71k still the target think we can see it by Sunday night if BTC can establish support at the .786 fib (69.4k)
