We Got That Breakout We Were Looking For (Video)
Bitcoin managed to break out from the bull flag and this could be very significant since we are right now above the previous major peak at 9200. Here is the daily chart:
Comment: At the moment Bitcoin is trading at 9300 and we are up 4%. But we must close above 9200 today in order to continue this bull ride to the upside so it remains to be seen what will happen during the rest of the day.
We are also trading within a rather narrow pennant formation and there is a risk that we might break out to the downside if we will cross the lower trendline below 9100.
In terms of the upside potential, Im looking at 9900 next which is another previous peak we had in early March.
Thats it for now, happy trading folks!
really it is so glad to see bitcoin on bull run. I wish to see 10k above in a week or above :P
Bitcoin @ $11,500, in a week and half :)
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