🔥 Bitcoin: The Trend Line That Brings Us To New All Time Highs
Earlier this week, Bitcoin saw a massive bullish move which we've only seen a couple of times during this bull-cycle. That being said, things are looking fairly bullish from this point onward.
There's currently one major resistance in play which can keep us from going higher. The most important resistance at the moment is the line drawn from the ATH in May to the "bounce-peak" early in September. Combining this trend line with the 40k support line, we get a perfect triangle formation.
Be aware that this triangle is classically a bearish triangle, so we could bounce from the top resistance. However, seeing current price action and the shift in sentiment, I think we're going to break on the upside next week.
After this break out, expect a re-test of said trend line to confirm it. This is the starting sign for a stronger move up, all the way to the current ATH around 63k.
Happy trading!
There's currently one major resistance in play which can keep us from going higher. The most important resistance at the moment is the line drawn from the ATH in May to the "bounce-peak" early in September. Combining this trend line with the 40k support line, we get a perfect triangle formation.
Be aware that this triangle is classically a bearish triangle, so we could bounce from the top resistance. However, seeing current price action and the shift in sentiment, I think we're going to break on the upside next week.
After this break out, expect a re-test of said trend line to confirm it. This is the starting sign for a stronger move up, all the way to the current ATH around 63k.
Happy trading!
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