Update 2 - BTC break-out
UPDATE 2:
BTC needs to clear the next level at $65,400 (black line). This level was support a week ago (left black box), then became resistance a few days ago (middle black box), and is close to being pierced now (right black box).
It's almost there. Just a little bit further and it should break through to the upside.
UPDATE 1:
BTC just might be paving a new uptrend (yellow line) after breaking out of the recent triangle (blue). It should continue up to the last high of 68.6k.
ORIGINAL POST:
BTC is about to break out of its recent triangle (blue lines), likely within 24 hours.
63k has become an important level over the last week. BTC punched through this 63k level a week ago (yellow circle), and then retested 63k twice (pink circles).
This 63k level has now become an important support. If BTC falls below this line, it would likely continue down.
But if it holds 63k over the next 24 hours, it should break to the upside, and should rise to the previous high of $68,500 (purple line). This would then be the 3rd time up to this level, and would likely punch through it very quickly.
BTC needs to clear the next level at $65,400 (black line). This level was support a week ago (left black box), then became resistance a few days ago (middle black box), and is close to being pierced now (right black box).
It's almost there. Just a little bit further and it should break through to the upside.
UPDATE 1:
BTC just might be paving a new uptrend (yellow line) after breaking out of the recent triangle (blue). It should continue up to the last high of 68.6k.
ORIGINAL POST:
BTC is about to break out of its recent triangle (blue lines), likely within 24 hours.
63k has become an important level over the last week. BTC punched through this 63k level a week ago (yellow circle), and then retested 63k twice (pink circles).
This 63k level has now become an important support. If BTC falls below this line, it would likely continue down.
But if it holds 63k over the next 24 hours, it should break to the upside, and should rise to the previous high of $68,500 (purple line). This would then be the 3rd time up to this level, and would likely punch through it very quickly.
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