BTC BRoke out of the trend line last night, at first it looked like a failed breakout as the volume was fairly low. I went to bed to wake up this morning to see the Volume increased in a huge way and we zoomed to $9400. Taking a look at the chart now, we see the 200ma is pushing, we are above the ema in a huge way which is a bullish sign. Above the green ichimoku Cloud , which is in climbing. an argument can be made for a cup and handle setup and we are currently pushing against the latest resistance line. If we break through I would say a move to around 10190 is on the cards, as it is the 1.618 fib line. Watch for Volume increase and a breakout, should see a pull back after 1.618 for an entry point if you missed the boat.
Good Luck
Good Luck
Comment:
Broken Resistance, currently around 9500, heading to the Psychological barrier at 10000
Trade active:
We have a Neutral Star pattern on the 60 min chart currently, watch it does not turn into a Evening Doji or a Tweezer Top formation as it may indicate a pull back, wait for next candle close would be the most logical action. $9725 is getting close to that $10 000 Dollar psychological barrier also, there may be an opportunity to short. Good Hunting
Comment:
Looking at wrong chart, currently not an star candle, my apologies.