Bitcoin: Thoughts and Analysis
Today's focus: Bitcoin
Pattern – Ascending Triangle Pattern
Support – 33,780
Resistance – 34,717 - 35,480
Hi, and thanks for checking out today's update. Today, we are looking at the Bitcoin on the daily chart.
Today's focus mainly focuses on the ascending triangle pattern we are seeing in the current up-leg. Could this set up a new breakout that retests the channel top and last week's high? We have laid out a few scenarios we are watching this week from price in its current pattern.
The two main thoughts are a new push higher. Or a pattern fail and a new push lower. Overall, we are remaining bullish due to last week's firm leg higher. If selling does develop, we will look for new higher lows to set up new continuations higher in the longer-term up leg.
Good trading.
Pattern – Ascending Triangle Pattern
Support – 33,780
Resistance – 34,717 - 35,480
Hi, and thanks for checking out today's update. Today, we are looking at the Bitcoin on the daily chart.
Today's focus mainly focuses on the ascending triangle pattern we are seeing in the current up-leg. Could this set up a new breakout that retests the channel top and last week's high? We have laid out a few scenarios we are watching this week from price in its current pattern.
The two main thoughts are a new push higher. Or a pattern fail and a new push lower. Overall, we are remaining bullish due to last week's firm leg higher. If selling does develop, we will look for new higher lows to set up new continuations higher in the longer-term up leg.
Good trading.
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