BTCUSD is still in an uptrend!
There is absolutely NO reason to be shorting the Bitcoin now. All the momentum is with the bulls and with the lastest breakout to the upside, further confirms this stance.
BTCUSD had been consolidating nicely between the $9,700 and $8,600 and forming a tight squeeze along the upper trend line. This is essentially a pattern within a pattern and another bullish signal.
As the breakout has now occurred, initial projected targets would see Bitcoin move towards the $10,400 level! However, as alluded to in my last post, there is a bigger timeframe target ahead at $10,800 so there is every chance that we could see increased volume and smash straight through to a new 2 month high!
Enjoy.
Disclaimer: This is only my opinion, make of it what you wish. It is not financial advice.
There is absolutely NO reason to be shorting the Bitcoin now. All the momentum is with the bulls and with the lastest breakout to the upside, further confirms this stance.
BTCUSD had been consolidating nicely between the $9,700 and $8,600 and forming a tight squeeze along the upper trend line. This is essentially a pattern within a pattern and another bullish signal.
As the breakout has now occurred, initial projected targets would see Bitcoin move towards the $10,400 level! However, as alluded to in my last post, there is a bigger timeframe target ahead at $10,800 so there is every chance that we could see increased volume and smash straight through to a new 2 month high!
Enjoy.
Disclaimer: This is only my opinion, make of it what you wish. It is not financial advice.
