Bitcoins Breakout is still on but remains in the balance..
Bitcoins symmetrical triangle breakout is looking good again this morning having spent the weekend repeatedly testing the breakout resistance. We are currently making our first real attempt at breaking above the nasty 4hour rejection candle from the initial breakout.
Volume looks ok for this push as well. Should we break the 4hour candle of death then the original longer target of 8100 is back to being on.
What would I like to see? Break the 4hour candle of death, get into the 7500 region and then come back down to retest the top of that 4hour candle before pushing back up.
As always, should we fail to break the 4hour candle top and fall back down into the sym triangle structure then i'd be expecting a big fall in price down to the bottom of the structure.
For now though, we still look good and getting healthier by the day..
Volume looks ok for this push as well. Should we break the 4hour candle of death then the original longer target of 8100 is back to being on.
What would I like to see? Break the 4hour candle of death, get into the 7500 region and then come back down to retest the top of that 4hour candle before pushing back up.
As always, should we fail to break the 4hour candle top and fall back down into the sym triangle structure then i'd be expecting a big fall in price down to the bottom of the structure.
For now though, we still look good and getting healthier by the day..