Bitcoin pushing back up through resistance 'band'

5 Apr 2021

Bitcoin pushes up after a couple of positive reports. Microstrategy buy, Grayscale intention to ETF.

We obviously need to test and confirm as support before we celebrate the win however, this does look like a positive move.

Keep an eye on the charts. Trade safely!

5 Apr 2021

Catatan

Let's see if we can confirm this short upward trend line. No confirmations yet.

6 Apr 2021

Catatan

After a nice run up into resistance, Bitcoin rejected and falling to the bottom trend line in the wedge. So far the pattern is holding (but down 2+% at the time of this update).

7 Apr 2021

Catatan

Obviously Bitcoin did not hold the ascending triangle. The last time we saw this type of activity, we ultimately regained the triangle before moving down again.

8 Apr 2021

Catatan

Last update for this idea. We verify the resistance band now support, and touch a prior upward trend line. Will we complete the pattern and break out??