#Bitcoin $BTC forming bullish consolidation flag before next leg
The following signals seem to support a continuation move to the upside similar to what we have recently seen in ETH:
Recently Bitcoin found a bottom on low volume and the volume picked up once a move higher was initiated, we may see this once again in the coming week.
With a 4% stop loss just below $3800 we are looking at potential gains of 20%.
- Cloud resistance was broken on the 12-hour chart following Tenkan/Kijun cross.
- Price found support on the 23.6% Fibonacci retrace from recent lows
- 10-day wedge broke decisively to the upside.
Recently Bitcoin found a bottom on low volume and the volume picked up once a move higher was initiated, we may see this once again in the coming week.
With a 4% stop loss just below $3800 we are looking at potential gains of 20%.
Trade closed: stop reached
