Hey guys,
BTC is starting to show some very bullish signals, last night we were able to break above the $6,400 resistance level, the next test will be $6,800. There is an Inverse Head and shoulders pattern that has formed and will be confirmed with a breakout above $6,800. There is also a falling wedge pattern that has formed since the highs, if this Inverse head and shoulders plays out, we should breakout of the falling wedge pattern very quickly. Since the falling wedge is so large, i would expect some really good upward momentum with a breakout. Who knows, maybe the Bitcoin ETF will be approved and send us back over the $11,500 and the bear will be dead!
BTC is starting to show some very bullish signals, last night we were able to break above the $6,400 resistance level, the next test will be $6,800. There is an Inverse Head and shoulders pattern that has formed and will be confirmed with a breakout above $6,800. There is also a falling wedge pattern that has formed since the highs, if this Inverse head and shoulders plays out, we should breakout of the falling wedge pattern very quickly. Since the falling wedge is so large, i would expect some really good upward momentum with a breakout. Who knows, maybe the Bitcoin ETF will be approved and send us back over the $11,500 and the bear will be dead!
Trade closed: target reached