Bitcoin Breakout Imminent?!
Looking at this daily chart it seems like Bitcoin is consolidating inside a potential rising wedge.
I'll be waiting in the bushes to see if we break this structure to the upside or downside.
My whiskers are telling me we are still in a bullish trend, so I think a break up is more likely.
If we do break up then we will enter a critical zone.
For me, a rejection at around $70,000 would mean the bullish Cypher is in play, and I would be looking for Bitcoin to hit the D at roughly $38,600.
If we get above $70,000 and establish support on top of the green channel then we could be going to the moon around $94,000.
Owhooooo!
I'll be waiting in the bushes to see if we break this structure to the upside or downside.
My whiskers are telling me we are still in a bullish trend, so I think a break up is more likely.
If we do break up then we will enter a critical zone.
For me, a rejection at around $70,000 would mean the bullish Cypher is in play, and I would be looking for Bitcoin to hit the D at roughly $38,600.
If we get above $70,000 and establish support on top of the green channel then we could be going to the moon around $94,000.
Owhooooo!
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