🔥 Bitcoin In A Short-Term Uptrend: Break Out Soon
Ever since BTC reached above $21,000 three days ago, the price has been slowly grinding upwards, forming a bullish channel in the process.
In my view, this is exceptionally bullish. We're not falling, we're not going sideways. No, we're making higher lows. I think this is a phase of accumulation before the next leg up.
I'm going to wait for a big green candle to close above the channel's resistance before calling it a successful break out. Blue lines are my targets for the next few days.
Remember that there's still plenty of bears around who are shorting. If they get liquidated the price can move 5%-10% very quickly.
In my view, this is exceptionally bullish. We're not falling, we're not going sideways. No, we're making higher lows. I think this is a phase of accumulation before the next leg up.
I'm going to wait for a big green candle to close above the channel's resistance before calling it a successful break out. Blue lines are my targets for the next few days.
Remember that there's still plenty of bears around who are shorting. If they get liquidated the price can move 5%-10% very quickly.
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