New $BTC local high incoming

11 thg 8, 2019

The BTC recovery after dipping into the daily cloud has been fantastic. I was worried about the "danger zone" where the cloud started to thin out and move upwards, since it's very easy to get a bearish break during a correction. Instead, we bounced hard, got a nice s/r flip, and are now solidly above a nice, thick, horizontal cloud. The weekly looks great as well, with the crypto version of a bullish engulfing candle and a break back above the weekly cloud. I expect some consolidation here before a break through this diagonal resistance, which will lead to a breakout of the previous high at 14k.