Bitcoin, which has followed an uptrend line since the minimum price marked in September at $2.900 (it has bounced 8 times already) has reached a resistance level around $6.200, and is forming something that looks like an ascending triangle pattern. If the triangle breaks, a possible target could be around $6.700. However, there is still enough room for at least one more bounce with the triangle structure. Resistance looks solid, and price formed a shooting star candle, which is a reversal candle pattern. Stoch RSI is showing overbought signal, opening a potential short opportunity to the uptrend line.
Trade closed: target reached