A follow up to the Bitcoin BTCUSD story…
Earlier this week, it was noted that BTCUSD had consolidated and started to base out, even on the daily chart. Trigger points were set…
The hourly chart breakdown analyzed and a buy zone at 9800 was marked.
Oh look at the chart today! 9900 was breached for less than an hour, and then a higher low logged, and that was it. We took position at just over 10,000, in addition to an earlier position about 9650.
The current daily chart looks good with a potential to continue to break above resistances and maintain above the 21EMA. Upon breaking out of the triangle, a target of 16,000 is expected. In all honesty, if and when it happens, it most likely be way before the marked date, as previously observed.
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