Bitcoin is attempting to break out of Weekly Resistance right now! My previous analysis showed a potential triple-top playing out which did bring us down to $35,700. That bear breakout was immediately erased and the price rocketed back into the bull channel.
How do we trade this?
If you're not already long from the $36,000 area, don't long just yet because...
This is what i've been waiting for while many of traders believe btc will fill all the imbalnce caused by ETF's i don't the moment we reclaim back 29500 it's time to take OFF.
As BTC, on weekly timeframe, has just broken resistance from last year and has tested it as support and has also formed a massive double bottom bull flag in doing so, another rally to the indicated levels (approximately 38000) is on the cards.
P.S. It could be the ceiling for the pre-halving pump that is expected to happen.
Today at the current level this chart analyzed, we see the same pattern this week mimicking last week pattern. If that happen again for the third time, then we might see a bounce for next week with retest around $6800 - $6900 zone. If it strong enough, then we might proceed to the resistance level.
From technical basis:
1. RSI level has shown that it trying to...
