For the past 12 hours or so, bitcoin has been in a consolidation at the $58K-59.5K Range. We can observe that the past consolidations have only led to bullish breakouts in the price.
The price is again forming a bullish continuation pattern which indicates a high chance of a breakout towards the 60K range.
We can also see that the price is currently facing huge support exactly where two lines of support intersect. Stay updated to see how it plays out.
The two support lines are formed by the median line of a drawn picture and the yellow line is the resistance line of the bullish pattern Since the price broke out of the pattern higher, this highly indicates upwards momentum.
The price is again forming a bullish continuation pattern which indicates a high chance of a breakout towards the 60K range.
We can also see that the price is currently facing huge support exactly where two lines of support intersect. Stay updated to see how it plays out.
The two support lines are formed by the median line of a drawn picture and the yellow line is the resistance line of the bullish pattern Since the price broke out of the pattern higher, this highly indicates upwards momentum.