BTC should reach some resistance at $7600. However, I wouldn't be surprised to see it breach $8000 before another trip to the bottom of the triangle. At the same time, BTC likes to counteract most analysis; it may never reach the bottom of the triangle again :)
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BTC has been trading between 5800 and 6800 for over a month now. It looks to be strong support. IMO it's just a matter of time before price climbs to the resistance line at 7600. I will take profits at 7600 and wait to see what happens
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almost minutes after i posted that comment BTC jumped to the resistance line. If you took profits, it would be wise to sit this out and wait to see what happens. There is somthing about this that tells me it might make a move to 8k range. With that said, the top red Trend line has been in play for 7 months now, if and when price breaks out of that triangle hold on tight. It will be wild wild west once again. Enjoy the ride
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Price pushed through the resistance line in the $7600 range. I anticipate that $7600 price range to act as support in the short term. Price also broke the top trend in red that I have drawn. That trend has been in place since JANUARY 20 of this year. I think we are in bull territory, especially with news of the ETF in mid-August. next price target is $9300