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Freedonia

Bitcoin and the breakout that bulls are awaiting

Long
Bitcoin (BITFINEX:BTCUSD)  
Freedonia Updated   
BITFINEX:BTCUSD   Bitcoin
Trend Analysis Chart Patterns BTCUSD BTC Bitcoin (Cryptocurrency)
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trendanalysis chartpattern btcusd btc bitcoin
The channel in which #bitcoin price is consolidating has been very consistent, acting as both resistance and support. A confirmed breakout (retest and hold 9k) and $BTC can target the 2018 highs at 1.618 Fib level. Failure to cross means reversal to the lower end of the channel.
Comment:
Both 0.382 Fib levels successfully tested as supports. Next one to look at is 0.5 and 0.618, which also means breaking last October high and more fuel to this bull run. Nonetheless, #bitcoin showed a nice follow through after our technical analysis.
Trade closed: target reached
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