BTC is trading within a pennant pattern since the beginning of April. Note the break up and immediate retest in early April of the falling resistance line.
Watch for price to break out of the pennant. If BTC breaks up a test of resistance around 7700 is next.
I think a more likely scenario is a break down to test 6000 again before the start of a stronger move back up.
In any case, watch the chart and trade it as it unfolds.
Watch for price to break out of the pennant. If BTC breaks up a test of resistance around 7700 is next.
I think a more likely scenario is a break down to test 6000 again before the start of a stronger move back up.
In any case, watch the chart and trade it as it unfolds.
Comment:
Strong break up through pennant and recent swing high. Watch for next resistance around 7700.
