Bitcoin will continue climbingAfter consolidating for almost 3 months, Bitcoin broke the resistance formed by the narrowing of the MIMAS 17 (pink) and 72 (orange) and has thrown a strong move to the weekly resistance of the $11750 area.
Now, we can see that the price is resting above this resistance and the green lines PV72 and PV305 are aligned below the price giving nice support to it.
This is a continuation setup and aims the third green line PV1292 on the $15650 area as the first target, furthermore, it is confirmed by the fan formed by the MIMAS in ascending order.
This is one of the strongest setups of the trade-system Phicube and I consider this as an amazing opportunity for a swing trade.
If we see the price getting there and having the same behavior after breaking the $15650 region, the target becomes the all-time high, and I confess that I'm pretty excited to see this happening and what comes after!
