There's a few conditions to be met in order to fully confirm the up move. They are:
1) Bitcoin 0.77% must NOT close below 6560 again in order for the breakout to stand.
2) Price must break above 6660 (If taking an aggressive stance), or 6749 (Conservative trading strategy) and RETEST it for a safe buy opportunity. Now there's the huge signal, we now need to break the top of the range before taking a buy. By not waiting, it's too risky.
There's also a condition that qualifies for a short.
1) Break below 6550 would break side-wards support which negates ALL the higher lows recently. It'd be a nice short opportunity.
Where do YOU think price is headed? Leave a comment with a chart and let's share our thoughts!
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