DrDovetail

BTC found wick resistance exactly @ my breakout target

BITSTAMP:BTCUSD   Bitcoin
TA amazes me sometimes by how exact it can be and this time is no exception. we can see price action has found resistance exactly at the breakout target of the tan symmetrical triangle I charted several weeks back. The fact that it first found resistance just a few dollars below the target, crashed back down to around 4.6k, then today rose all the way back up and hit the target exactly is fascinating...I expect a slight correction or consolidation here but I still think it's possible afterwards that we could continue higher and reach the breakout target of the much bigger falling wedge we broke out of which is all the way above 7k. For now though, until I see whether or not we are continue instantly upwards, sideways, or correcting down to a follow-up higher low, I will leave this idea neutral. Longterm however, I am very bullish as always.
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