Bitcoin (BTC) Price Update: Price Target Breakout Trade?

Hi guys!

Since bitcoin has broken through the resistance on the downward trend also gaining momentum. There is a possibility of a breakout trade could happen.

So, here are my thoughts on bitcoin.

BTC - Daily Chart

Tools used: Stoch RSI, Trendlines and Trend-Based Fib Extension

This is the first time over the past 2 months bitcoin has made higher lows and if we see a higher highs I would expect bitcoin to breakout from this ascending triangle.

Here is a rough plan for a breakout trade. Note that previous resistance that turned into support should be accounted as well.

Disclaimer

You know the drill guys. This is just opinion and not a financial advise. Do you own research and decide your own trades. Cheers!