Bitcoin may have started a new uptrend following the breakout above 315 resistance level. The price has been consolidating within a triangle formation and that suggests a possible breakout soon.
Bitcoins were supported by the recent risk aversion environment surrounding the global markets and financial system as an alternative. Having that in mind, if risk prevails, i expect bitcoin to rally to surprising levels.
Technically, IF we break to the triangle to the upside, initial target would be at the latest swing high 502, followed by 678 resistance level.
Would you like to see a daily technical forecast for BTC/USD ? Give your Vote here thefxchannel.com/poll/
Best regards,
Technician
Bitcoins were supported by the recent risk aversion environment surrounding the global markets and financial system as an alternative. Having that in mind, if risk prevails, i expect bitcoin to rally to surprising levels.
Technically, IF we break to the triangle to the upside, initial target would be at the latest swing high 502, followed by 678 resistance level.
Would you like to see a daily technical forecast for BTC/USD ? Give your Vote here thefxchannel.com/poll/
Best regards,
Technician