Bitcoin above pivot Breakout test - $3000 then $5000 here we come!

So, if you have been following along, over this weekend we used bitcoin as a technical analysis case study - does it work on cryptocurrency. The answer is yes, yes it does!

For reference if you would like to see the previous posts that led us to $2500 btc:
https://steemit.com/cryptocurrency/@satchmo/expecting-a-bullish-move-in-btcusd-usd2500-holds-and-up-we-go

The ideal is after this bit of consolidation on the trendline, BTC will continue to make price progression off of the 50 day moving average.

We should be watching for a slight pullback and consolidation before continuation. Ideally BTC holds that Trendline on the 30minute time frame while this occurs.

At this point we would have once again moved our stop losses up, possibly taken profits and reaffirmed our targets or set new ones.

If you have any questions about technical analysis feel free to ask in the comments below!

Not trading or investment advice. Understand the risks associated with buying and selling any asset class

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