BITCOIN ON BREAKOUT AND PULLBACK BEFORE THE RALLY
Bitcoin has confirmed a breakout recently on the trend line picked up. We have seen a reversal back towards the
27K
has taken to accumulate more buying pressure. We expect the price to ladder up steadily above the levels and also looking towards a target close to the major resistance formed on the top.
27K
has taken to accumulate more buying pressure. We expect the price to ladder up steadily above the levels and also looking towards a target close to the major resistance formed on the top.
Comment:
Bitcoin also respects the upper boundary formed on the growing channel spotted. We see the 5 Elliot wave completed inside the channel formed which looking for a bearish correction to the downside.
Possible reversal on the resistance after achieving the major target.