$BTC has been enjoying a good steady $1000 bull run off the $5.8k floor - rising 17% in 9 days. Starting off in the lower Bollinger and now traversing though the upper Bollinger.
$BTC is travelling up a nicely laid out channel towards $6900 & $7000, where I think a lot of confidence will return to $BTC (the orange box). This is because $BTC will break the resistance at $6800 and the 50-day EMA which it hasn't done since May 11th.
Watch out for volume to confirm confidence when $BTC into the orange box. Volume has been down as it has been most weekends.
I'm going long at $6900.
The Contrarian View: even without any bad news we could be due another retracement. $BTC could break through the Upper Bollinger at $7000. It will be interesting to see how the then newly-formed support at $6800 plays out.
$BTC is travelling up a nicely laid out channel towards $6900 & $7000, where I think a lot of confidence will return to $BTC (the orange box). This is because $BTC will break the resistance at $6800 and the 50-day EMA which it hasn't done since May 11th.
Watch out for volume to confirm confidence when $BTC into the orange box. Volume has been down as it has been most weekends.
I'm going long at $6900.
The Contrarian View: even without any bad news we could be due another retracement. $BTC could break through the Upper Bollinger at $7000. It will be interesting to see how the then newly-formed support at $6800 plays out.