In this idea we will discuss the current price movement of Bitcoin. The price recently broke out of the structure (Bull Flag), formed by lower lows on the supportline and lower highs on the resistanceline. The buyers were stronger than the sellers and after hovering around our key-zone, we are finally aiming for a new all-time high.
Our first target for this long trade is located at the previous high ($62.000) with the next target at $66.000.
A great entry is located at a retest of the resistance line - switching to buyers support this zone.
cheers,
Ares
Our first target for this long trade is located at the previous high ($62.000) with the next target at $66.000.
A great entry is located at a retest of the resistance line - switching to buyers support this zone.
cheers,
Ares
![[CRYPTO] The Technicals Behind Bitcoin (Intraday View)](https://s3.tradingview.com/0/0w2n0akm_big.png)
Comment:
Retesting the Resistanceline at $57.000
Trade active:
Breakout confirmed
