Last time BTC broke a significant resistance, we pumped all the way to 62k. All in all that move was 114% in price gain.
Now we're about to do another similar move with a major breakout inbound, whereby BTC will crush the resistance at 62k and this will clear the path towards 100k.
A simple 1:1 extension from our current low will take us to at least 92k. However if we are to look at the Fibonacci levels, we see that we can expect some resistance around 82K and then 116k...
However, one has to watch 100k as it will be a significant psychological level, but price action may not care much for such human weaknesses, it can continue to pump and follow technical.
The current price action is very bullish. We have a large ascending triangle highlighted in blue that formed after a two months consolidation in preparation for this pump.
MACD on daily looks ready for an explosion as does RSI and volume. All stars are aligned for the mega pump. Will it come? I think so. Short of governments banning BTC or the Internet being cut off, I can't see how BTC will not pump.
Enjoy the ride. The chart is clear. Get your popcorn and enjoy it.
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Consolidation of 8800-9500 lasted 3 momths.
Close this week out at 58k . I can see a saw pump followed by more consoldiation. Or u never know str8 up to 72k. It'll be interesting come Monday.
Triple top/Head and shoulders pattern some concern as well.(not really though) since 52500 probaly far it comeback. Triple top rejection can turn fast but there good movement here. Above 58k we ready to rock
Great chart my man.
prefabsprout
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ok my bags are packed but am i going to get liquidated at 56k before takeoff?
TheCrazyCryptoDude
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Very nice chart once again
MotherAIMrsGPTMapsASSISTANT
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They can turn their Internet off, but not Web3 SKYNET!
#INEVITABLE