DrDovetail
Long

BTC has broken above the inv h&s & falling wedge

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
A good sign for the bulls as BTC has now broken upward from the bull flag it was in on the 1 day chart which has allowed it to break above both the inverted head and shoulder pattern and the falling wedge as well. It is still seeing resistance at the 4hr charts 60 line on the RSI but as soon as we can break above the 60 on the 4hr rsi and flip it to support I think the real bull run will begin...lots of bullish signals all around including the developing golden cross on the 1 day chart which is still probably a week or 2 away but worth keeping an eye on. If the inverted head and shoulder breakout is legit we should see the price action go up to around 8k and test the top trendline of the larger triangle pattern that we have been in since the beginning of the year. Our series of higher low/higher highs is still in tact as well so I still am a firm believer in "To the moon in June!"
Comment: https://s3.amazonaws.com/tradingview/sna... Forming a bull flag on the 4hr.
Comment: https://s3.amazonaws.com/tradingview/sna... continuing to form bull flag on the 4 hour trajectory of t line looks like it should help force the price action upward out of the flag within the next 3 4r candles.
Comment: https://s3.amazonaws.com/tradingview/sna... breakout of the 4hr bull flag and finally breaking above the 60 resistance on the 4hr RSI we are going very likely going to 8k.
Comment: we are now testing the 60 line on the 4hr rsi for support..as of now it's holding if we can get a bounce upward from it it will be a very good sign.

Comments

DrDovetail RodrigoGarreton
@RodrigoGarreton, you're anticipating an inverted cup and handle? . . .it is plausible, something to keep an eye on for sure.
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@DrDovetail, yeah! update in

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