Bitcoin Breaking Daily Range Resistance to Start BULL RUN?!

BINANCE:BTCUSDT   Bitcoin / TetherUS
Bitcoin is consolidating in the 39k-41k range, forming what appears to be a diamond pattern. As the move into the diamond was up, it is more likely that price will break up from the diamond (of course, that doesn't mean a break down from the diamond isn't possible, just less likely). If price does break up from the diamond, then the technical target from that breakout is at 43K. This is huge not only because that would be a $3000 dollar move in the Bitcoin price, but also because that would put Bitcoin's price above the high of the range that we've been stuck in since the crash from 65K to 30K. The low of that range was around 29-30K and the high of that range was 40-42K. So by hitting 43K, price would be breaking above the 40-42K range high, thus likely starting a new bullish run after having spent such a long time in consolidation. Of course, we have to track this one step at a time, starting from first getting a confirmed breakout up from the diamond pattern.

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As always, I’m not a financial advisor, all information presented is for educational purposes only and not meant as financial or investment advice, do your own research, and stay safe!


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