In my analysis of BITSTAMP:BTCUSD yesterday, I mentioned my expectation for a new all-time high from Bitcoin in the near future. However, during yesterday's trading session, the price once again failed to surpass the 72k mark, raising some doubts about my outlook.
Firstly, after breaking above the 68k zone and retesting it, I anticipated a new local high. However, this didn't materialize.
Secondly, the rise from 62k wasn't as impulsive as one had wanted.
Considering these factors, while I remain bullish in the short term, I am closely monitoring the 68-70k zone. If we break below 68k, we can expect a continuation of the downward move, possibly even testing the support zone at 62k again.
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BTC is forming a nice symmetrical triangle. I'm waiting for an up break